If your opponent has a "Prime Material Dragon" on the field and at least 8000 more Life Points than you, the effect of "Life Equalizer" would still drop your opponent's Life Points to 3000 because "Life Equalizer" doesn't inflict damage/increase Life Points.
After using "Life Equalizer", you could then follow up with "Gift Card" and "Nurse Reficule the Fallen One" or "Bad Reaction to Simochi" for an OTK.
Combine "Gift Card" and "Wall of Revealing Light" with "Life Equalizer", to have a potent wall without putting yourself significantly behind in terms of life points.
Summon "The Winged Dragon of Ra" and use one or both of its effects. Most likely you should have 5000 or more of a Life Point difference. This will allow you to use "Ra's" second effect up to two more times without worry, possibly allowing a Direct Attack for game.