I would rather go B/U with it. Mesmeric Fiend is pretty good in this type of deck too. Black is a better color than white for almost anything in T1 also.

I dont think Swords are needed either. If you are using them to target Welders, Darkblast is almost stricktly better. If you are trying to target an Oath creature or DSC with it, then you can just tap it down with Apprentice.

Withered Wretch is also pretty bomby in T1 against a lot of decks.

The ability to play Confidant almost makes black better than white just by itself.

I was considering smashing together Rizzo and Dragon to see if I could come up with something. The dredge speed that Rizzo has could get dragon going incredibly fast. Since we are dredging so damn much, it is likely that reanimate spells will be put in the yard, I think Recoup should be played because of that. I also feel that Wheel of Fortune and Windfall could also be put to good use here. The list will be crazy tight but I think it would be better than a straight Rizzo deck.

I was also thinking that if you play Life from the Loam, you have to play atleast Stripmine.

Mana problems can also come up. I would think that a few more basics and some Riftstone Portals would be needed. Portals will help a lot with getting the mana you need and if they are on basics they cant be wasted.