I think it will see play.[...] I think this card is a perfect fit for the deck as a one-of.
I don't. Gifts has no need at all to run another recursion card besides Recoup. The fact that this is blue is seriously mitigated by the ability to get back Sorceries only. Your only targets are Yawgmoth's Will, Burning Wish and Tinker, maybe Time Walk. To get any value out of this, you must put Will or Tinker in the Gifts stack, because those are the only real business spells there. If you do, you are unlikely to get either. Even if you put Ancestral and Lotus next to Will and Deja-Vu, you effectively lost a card that could otherwise have been useful for you even while in the graveyard (Recoup). Sure, in the scenario you get Ancestral and Lotus, but simultanely you put one of your win conditions out of your current reach.
If you get Tinker, Will, x and Deja Vu, it's even worse since you just have narrowed your ways to win down to exactly one barring the Recoup you hopefully still play -- but then there was no reason not to go for Recoup in the first place. I see that sometimes, it will be useful to have a second instance of a regrowth spell, but I think that is mainly down to not enough practice with the correct timing of mana fetching, the timing of Recoup itself and appropriate Gifts stacks. You only need Recoup, and if that fails, you always have plan B with Tendrils. I think you are much better off running a business spell or an extra counter or maybe Personal Tutor in that slot, if you even manage to free one up.
The deck is still very hard to play well. Wrong decisions often lead to situations where suboptimal or redundant cards would help, but that weakens the deck's power. Only if one feels that one won't get any better and constantly needs such a fall-back could one argue for its inclusion. But then another deck would be the better choice anyway.
Dozer