Since it's an instant, you simply pass your turn, wait until your opponent's upkeep, and then cast it, which is very close to getting an extra turn (the main difference is that your opponent will get to untap)
Considering how many avenues the deck contains to gain life, why not punish the opposition a bit more by adding stuff like Marauding Blight-Priest or Enduring Tenacity
You often fuel combo decks or control decks with it
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However, like Necropotence, it was eventually pushed to such a degenerate place that fewer and fewer games were actually interesting when it was on the table
Articuno Ability: Ice Float If this Pokmon has any Water Energy attached to it, it has no retreat cost