Note that while this card cannot target a monster whose ATK is higher than your opponent's Life Points, one whose ATK is exactly equal to your opponent's LP can still be targeted. This card also targets based on current ATK but damages based on original ATK, so a monster whose ATK has been lowered by an effect can be targeted. Either of these facts can make it possible to win with this card.
Note that with the new erratum of this card and the new ruling change on victory conditions, it is no longer possible to force a DRAW with this card under any circumstances.
Since the last thing to happen is the effect damage, this card can cause monsters that activate an effect when they are destroyed to miss the timing. This can be useful against "Yang Zing" monsters, for example.
Note that with the new erratum of this card, if an effect is used to avoid this card's damage, your opponent will not take any damage either. This effectively turns this card into a mildly restricted 1-for-1 removal card, in a style similar to "Smashing Ground" except slower.
If your opponent's LP is lower than yours, manipulate one of your own monsters' ATK to a value between your LP and your opponent's LP to win the Duel with this card. Manipulating the ATK of your own monsters is generally easier than doing so to your opponent.
If both players have low LP and/or there is a monster with high ATK on the field, this card can be used to force a DRAW in a pinch.
All eight of the cards listed immediately above (that existed prior to this card's erratum) can be used to much greater effect, destroying any one of your opponent's monsters and potentially inflicting very heavy damage, while nullifying all downsides.
This card received an erratum on January 10, 2015 in the OCG and on March 20, 2015 in the TCG, causing (likely intentionally) the above three tips to no longer be possible.