With the recent drought that has been intuitive/intelligent deck and sideboard design surrounding competitive play I thought it was time to throw my 2 cents into the ring.
No one is going to disagree with you when you look at the metagame and openly declare that TPS is the best deck. Just this summer it won Vintage Worlds and several of the most competitive tournaments in the United States. If you just scan a decklist, you'll find it full of so many insane plays! I mean, Dark Ritual -> Necropotence? That has to be the best... Or does it?
In my opinion, the deck is too luck-based. I believe it's strong performances are only due to it's attendance. Data from the August Blue Bell Lotus Event shows that around 25% of the field was Ritual based. If 15 people would have shown up with Belcher, I'm sure one of them would have walked away with the Lotus. To help illustrate my point, I loaded Allen Fulmer's Lotus-winning TPS deck into Magic Workstation and drew 5 sample hands. (His list can be found here:
http://www.themanadrain.com/index.php?topic=36418.0 )
Sample 1:Grim Tutor
Polluted Delta
Chain of Vapor
Lotus Petal
Grim Tutor
Cabal Ritual
Dark Ritual
This hand is one mana short of a first turn Yawg Will win and crippled by an opposing Force of Will. You can either play Polluted Delta and pass the turn, hoping to draw a mana source for the turn 2 unprotected win or play a Grim Tutor off the Dark Ritual, getting either Black Lotus or Ancestral Recall. Black Lotus would also allow a turn 2 unprotected win and Ancestral Recall would give you a chance to draw into protection for, hopefully, a turn 3 win. The slightest bit of disruption makes this slow hand A LOT worse. You'll need some luck to win this game.
Sample 2:Imperial Seal
Polluted Delta
Lotus Petal
Mystical Tutor
Mox Sapphire
Grim Tutor
Duress
This hand is better because it has an on-color Mox, but still not very good. The obvious turn 1 play is to Duress and Mystical Tutor off the Sapphire. Tinker would be the easiest win (turn 4), but definitely not fail-proof. The other option is Timetwister, which might get you a turn 3 win. Though if your hand is anything like the next sample, you'll probably just lose.
Sample 3:Swamp
Mox Ruby
Force of Will
Mana Vault
Bayou
Duress
Merchant Scroll
This hand is awful. Turn 1 Duress, Ruby, Vault, Go. Hope you draw something.
Sample 4:Time Walk
Bayou
Mana Vault
Chain of Vapor
Grim Tutor
Cabal Ritual
Vampiric Tutor
There really isn't much you can do with this hand at all. I think the strongest play you can make is Vampiric Tutor for Black Lotus and Grim Tutor for Necropotence for a turn 3 unprotected win. It loses to Force of Will or any kind of disruption and is slow to boot.
Sample 5:Misdirection
Ancestral Recall
Polluted Delta
Swamp
Necropotence
Merchant Scroll
Cabal Ritual
This hand is the best of the samples. Turn 1 Ancestral Recall. Turn 2 Necropotence, which should equate to a turn 3 win. All protected by Misdirection. Even though it is significantly damaged by Duress, Sphere of Resistance, or Cursecatcher, the Ancestral Recall should give you a pretty good chance at getting back into the game.
Against a competent opponent, playing a decent deck, TPS should only win 1 to 2 out of these 5 games. That has been my experience with the deck so far; every game is a struggle. Of the 3 tournaments I played the deck, I only top8ed once. Even World Champ, Paul Mastriano, isn't playing the deck anymore. And Eric Becker says the deck tested worse than Intuition Tendrils, which doesn't see play.
It's difficult to know what to think when testing reveals data that doesn't shadow tournament results. I think the deck will begin to see less and less play overtime as more consistent decks with appropriate disruption will trump it. I've been having moderate success with an Intuition/Accumulated Knowledge version of TPS, but ultimately it will just be too easily defeated by common disruption.
Vintage is beginning to degenerate. What's the next deck-to-beat? Suicide Black.