A good card to follow up with after this card is used; played "Megamorph", as your Life Points will probably be lower than your opponent's after using this card. Another good follow up card is "D.D. Crow" to banish whatever card was just destroyed. This will all but cripple most Decks focused on a particular card.
Your Life Points cannot drop to 0 by using this card. The less Life Points there is, the less costly it becomes to use this card, significantly increasing its usefulness towards the end game (ex. You can pay 4000 Life Points at the very beginning when your Life Points are at 8000). To secure an "OTK", if it can be pulled off, or an amount as low as 5 can be paid to negate a crucial Summon from your opponent, opening them up for a finishing blow.
Keeping this in mind, this can be used in place of "Seven Tools of the Bandit" when there is 1000 or less Life Points, as this card can be activated no matter what.