First, I'll list the 5 epic spells.
Enduring Ideal
5WW (7), Sorcery
Search your library for an enchantment card and put it into play. Then shuffle your library.
Epic (For the rest of the game, you can't play spells. At the beginning of each of your upkeeps, copy this spell except for its epic ability.)
Eternal Dominion
7UUU (10), Sorcery
Search target opponent's library for an artifact, creature, enchantment, or land card. Put that card into play under your control. Then that player shuffles his or her library.
Epic (For the rest of the game, you can't play spells. At the beginning of each of your upkeeps, copy this spell except for its epic ability. You may choose a new target for the copy.)
Neverending Torment
4BB (6), Sorcery
Search target player's library for X cards, where X is the number of cards in your hand, and remove them from the game. Then that player shuffles his or her library.
Epic (For the rest of the game, you can't play spells. At the beginning of each of your upkeeps, copy this spell except for its epic ability. You may choose a new target for the copy.)
Undying Flames
4RR (6), Sorcery
Remove cards from the top of your library from the game until you remove a nonland card. Undying Flames deals damage to target creature or player equal to that card's converted mana cost.
Epic (For the rest of the game, you can't play spells. At the beginning of each of your upkeeps, copy this spell except for its epic ability. You may choose a new target for the copy.)
Endless Swarm
5GGG (8), Sorcery
Put a 1/1 green Snake creature token into play for each card in your hand.
Epic (For the rest of the game, you can't play spells. At the beginning of each of your upkeeps, copy this spell except for its epic ability.)
The red and green ones are the most useless.. the red one says "win in about 4 turns from now, but do nothing until you win, apart killing creatures, but than it takes longer"; the green one says "win in about 4 turns from now, and you can block everything which doesn't fly, but do nothing until you win". Both are pure trash.
The other ones deserves at least a closer look. The blue one is strong, even it's not necessary a win condition in its own, since there are many decks which lack powerful targets to steal. And being able to do only one robbery each turn is now much. Add to this the HUGE cc, and you can make cigarette filters with that too.
Now the black one. This one IS interesting. The casting cost is very high, but not impossible. It's a winning condition in its own, since it mills the opponents in about 7 turns. It could seem too much, but it's not necessary that if the opponent can't win anymore. If you manage to remove all his win conditions, there is nothing left he can do. Leaving Hulk without Atogs or TPS without tendrils, brainfreeze and darksteel colossus, or oath without its creatures kills them too. The real risk is that they have already drawn in, or played it. Unfortunately this spell looks only in the library, not in the hand and/or graveyard. Risky move unless we've cast a duress before.
This spell, however, is really an auto-lose against aggro decks or any deck which have already played a serious menace. This means that IMHO no serious deck can work AROUND it, since no deck can be sure to win casting it against anyone. However it could be an interesting 1x maindeck or (more probably) in sideboard, since it can not wreck completely anydeck. Consider that just like a uber-powerful cranial extraction, but that leaves you vulnerable for the rest of the game, but that against some decks is an "I win" card. I can see it to be a possible card in decks which can play ritual and/or drains, and possibly duress too (to be sure some vital card has not been drawn already). Atog could cast it after a good drain for instance. I'm not saying this is necessary good, but indeed against some decks it is. The problem is that its use is maybe too narrow.
And now the white one. This can help us bring in huge enchantments. The first which comes to my mind, which could establish some control, is decree of silence. Dropping a decree as first enchantment, maybe another the turn after, and then the real win conditions seems an interesting possibility. As additional defenses we could drop moat, solitary confinement, Island Sanctuary (after all we do not need to draw anymore), pernicious deed as big removal, maybe form of the dragon as both defence and finisher. The power of the card is really interesting, however the real problem seems to be he really high casting cost. Even with full jewelry and 4 drains, the deck needs to be a sort of slow control deck. What hurts more is that in order to have great results from a resolved Enduring Ideal, we need to run very heavy stuff like Decree of Silence, card almost uncastable otherwise. Would be running Academy rector a good idea to fix this problem? I'm not too sure, since we would also need ways to kill it. I see as a better option running Enduring Ideal as an additional win condition, together with something like Replenish. If we bump into graveyard hate, we could still play Enduring Ideal which does not suffer it.
In the end, IMHO it seems like the black spell could be an interesting tech against some decks, using it as a sideboard card. The white one, instead, could maybe be a good card in a particular deck, maybe something like that "Bruce Lee - Enter the Dragon" deck I've found here on the forum some time ago (
http://www.themanadrain.com/forums/index.php?topic=22175.0). But I fear it's just really too slow to work properly in Vintage.