There's a near infinite loop involving 2 "Flint Locks", "Flint" and "Morale Boost" which can give you infinite Life Points: make sure you have two copies of "Flint Lock" on the Field, then activate "Morale Boost". Next equip "Flint" to one of the monsters, then use the effect of "Flint Lock" to move "Flint" to the other "Flint Lock", repeating as necessary. You can do this for massive Life Point gain in one turn, enough to persuade your opponent to give up.
If you control this card and 1 or more equips, use "Emergency Provisions" and send Morale Boost to the grave first.
This card works well with Union Monsters, which become equip cards, and can repeatedly un-equip and re-equip themselves.
This card works exceptionally well with "Life Stream Dragon", as a deck with that card would depend heavily on equip cards, and "Life Stream Dragon" would prevent the damage you would take from this card's negative effect, while still harming your opponent.