Do you sometimes have trouble deciding between Stoneblade, Delver, and Miracles? Each of them have their advantages, but this is trying to capitalize on all of them.
Fred Edelkamp already has a Grand Prix Top 8 with a similar deck, so it's pretty clear he knows what to do with blue and white cards. This version is certainly on the slow, controlling end, utilizing things like Sensei's Divining Top plus Counterbalance and Stoneforge Mystic plus True-Name Nemesis. Brainstorm and Ponder help you find what you need early, and Dig Through Time provides some much needed card advantage and selection later. Monastery Mentor is also a nice win condition.