Use this card with "Unstable Evolution" to make the ATK of any monster on the field to either 4800 or 500.
Keep in mind that the margin between your Life Points and your opponent's has to be substantially large, otherwise your opponent will use them both against you with cards like "Ookazi" or "Draining Shield."
You can use this card with "Soul Charge". While you Special Summon monsters from your Graveyard, you lose Life Points enough to double their ATK, eventhough you cannot attack during this turn.
When your Life-Points are higher than your opponent's, you can still equip this card to your opponent's card to have its attack halved because this card's effect depends on your Life Points, even if the card equipped with this card is your opponent's.
This card can work well in a "Psychic" deck, in which you often have to pay life points to activate monster effects and in the same proportion having cards that increase your Life Points
Combo this card with a Gemini Summoned "Evocator Chevalier". While you have less life points, "Evocator Chevalier" will be a 3800 ATK beatstick. When your life points become more than your opponent's you can just use the effect of "Evocator Chevalier" to destroy a card while ridding itself of the drawback.
This card can be equipped to any Monster that is Normal Summoned using "Ultimate Offering", since that card requires you to pay 500 Life Points for each additional Normal Summon.
Equip to a monster that continually lowers your life points, such as "Number 30: Acid Golem of Destruction", to make that monster very large; as long as you keep paying life points or taking damage, this card's negative effect will not be an issue until you've hit your opponent for a lot of damage.
When your Life Points are higher than your opponent's, you can activate this card to decrease your DARK monster's ATK to less than 1000. Then, you can activate "Crush Card Virus" to tribute the monster that is equipped with "Megamorph".
However, this may backfire spectacularly if your opponent uses Tyranno Infinity(infinity's original ATK is dependent on the number of Dinosaur-Type monsters removed from play; even though Infinity has "?" ATK).
This card works magnificently with Number S39: Utopia Prime, as its activation cost for its effect will almost always leave you with less life points than your opponent.