After playing TPS against most of the Tier one decks right now, I think TPS could be more viable with masknought combo. Why? Becouse we still can have good ability to Tendrils-kill and still can constantly bring 12/12-to table, which is too mutch for most decks. And with sideboard we can turn it back to nearly normal TPS, which is even better. I would like to hear your comments and give advices for my list:

Lands (14):
1 Library of Alexandria
1 Tolarian Academy
2 Island
2 Swamp
4 Underground Sea
4 Polluted Delta

Protection (8):
4 Force of Will
3 Duress
1 Chain of Vapor

Draw spells (6):
1 Ancestral Recall
4 Brainstorm
1 Timetwister

Cards that win (4):
1 Necropotence
1 Yawgmoth's Bargain
1 Mind's Desire
1 Yawgmoth's Will

The Trick (1):
1 Time Walk

Tutors (4):
1 Vampiric Tutor
1 Mystical Tutor
1 Demonic Tutor
1 Tinker

Non-land mana (13):
1 Black Lotus
1 Lotus Petal
1 Mox Sapphire
1 Mox Jet
1 Mox Ruby
1 Mox Pearl
1 Mox Emerald
1 Mana Crypt
1 Sol Ring
4 Dark Ritual

Masknought-combo (8):
4 Illusionary Mask
4 Phyrexian Dreadnought

Other win conditions (2):
1 Tendrils of Agony
1 Darksteel Colossus

Sideboard (15):
1 Mana Vault
1 Tendrils of Agony
1 Rebuild
1 Frantic Search
1 Hurkyl's Recall
3 Stifle
1 Time Spiral
1 Memory Jar
1 Windfall
1 Rushing River
2 Misdirection
1 Duress

Here you go.

I would cut Cabal Therapies and try to fit FOWs in. Also Bazaars would be great, 'couse this looks like very slow (compared to other Dragons that I've seen)...heh!