The ones we have now can be adorable inclusions to your latest EDH brew, particularly if you have some kind of infinite combo in mind
Most importantly, it's a complete program that changes how your opponent plays the game
"Flashback [cost]" means "You may cast this card from your graveyard by paying [cost] rather than paying its mana cost" and "If the flashback cost was paid, exile this card instead of putting it anywhere else any time it would leave the stack." You must still follow any timing restrictions and permissions, including those based on the card's type
(Look at the top X cards of your library, then put any number of them into your graveyard and the rest on top of your library in any order.) Once Lydia Frye has been blocked, increasing the blocking creature's power to 3 or greater won't cause Lydia Frye to become unblocked
At first glance, the baseline isn't the most exciting
Not automatically super good but pretty likely to be