Deed is still a good control tool these days but more so in the control of combo decks than against aggro or control ones
In effect, what you get is the ability to sprinkle your deck with Equipment without diminishing your creature count
For each of those cards that has the same mana value as another card revealed this way, they can then create a Treasure token
In conjunction with Naban, Dean of Iteration, it can be incredibly powerful by stealing the opponent's two best creatures, although something like a Lightning Bolt, Path to Exile, or Fatal Push undoes all of our work by giving the creatures back
For example, your opponent may reveal a Plains while playing Port Town (from the Shadows over Innistrad set), but Port Town will still enter tapped
If that wasnt enough, this Wraith Noble also disincentives opponents from attacking