Honestly, there is no deck that can properly abuse this card. sometimes wizards does well with out of the box thinking (Mindslaver) and sometimes bad (Trinisphere and Serum powder).
If you take a cue from extended and test Manuel Bevand's crazy Sneak Attack deck, you will find that Serum Powder can actually be a strong card. Would it work in Type 1? Probably not, thanks to Force of Will and plenty of very strong control decks in general, which is something extended is currently lacking (in numbers of people playing good control decks, that is)... but if you want to investigate Serum Powder, Bevand's deck is probably the best place to start, so you can see what sort of deck can be helped by this card:
4 City of Traitors
4 Crystal Vein
2 Dwarven Ruins
6 Mountain
4 Sandstone Needle
4 Chrome Mox
4 Symbiotic Wurm
4 Serum Powder
4 Arc-Slogger
1 Crater Hellion
2 Final Fortune
4 Gamble
1 Rorix Bladewing
4 Seething Song
4 Sneak Attack
4 Through the Breach
4 Serra Avatar
And, sorry to veer into extended, but I believe it's quite applicable to the discussion of Serum Powder.