Great in any deck with cheap and free spells or those that produce mana or indeed just decks that produce a lot of mana
It is often a bad idea to waste your flying or reach creatures on blocks that wont destroy the other creature
With 99-card decks, redundancy in your card draw effects is key
Not only can it tutor them up, it can also animate them, and it also gives you some nice incidental Enchantment hate
The legendary artifact card that jumps to mind for me is of course Excalibur, which will circumvent that pesky high mana value, but there are a ton of sweet options you could put in the deck outside of Equipment
You can play it early as a bear, and then in the mid to late game it can start coming back from your graveyard, which can net you a very real advantage Giving your whole board -1/-1 isnt normally something you want to be doing, even if you do get a three mana out of the deal