This card works well with Toon monsters and "Toon World", since "Toon World" is immune by this card due to not having an effect to negate, and the condition for most Toon monsters only requires "Toon World" to be present on the field, not to have its effect active.
The best time to activate this card is chaining it to the activation of important Spell Cards.
As this card's Maintenance cost is now mandatory due to the new erratum, you can use a card like "Scrubbed Raid" to dispose of it, in case you want to regain the use of your Spell Cards. Keep in mind, this will also give your opponent back the ability to use Spell Cards, so be sure you are familiar with the construction of both players' Decks.
This card's supposed cost can be used to your advantage; Spell Cards are generally used during one's own turn, so activate this card at the start of your opponent's turn, then skip the cost and let this card destroy itself at the start of your next turn. Your opponent's moves will be greatly hindered while not affecting your own.