Steve and I will definitely be talking about this card on the next segment of our RTR spoiler-cast.
Regarding the third ability: it's not a common thing to deal a LOT of (non-lethal) damage to one's opponent in the first two turns in Vintage, but I would point out that Dredge has a habit of putting 8-12 creatures in play on turn 2 or 3 and I very much look forward to a Dredge player getting burned out by this Charm at some point

That's cool. Could you guys discuss whether or not all these utility charms in this set (and presumably in Gatecrash) will make Cunning Wish a useful enough spell to warrent play in Vintage? It seems packing 3-4 charms of differing sorts in your SB with 4 Cunning Wish mainboard would have some nice control synergy.
Peace,
-Troy
I think the major reason to run charms and cunning wish is for their utility. I dont think id want to be casting cunning with to get a charm. Essentially you would be paying 5 mana, 3 of it colored, for a 1 or less mana effect
With a properly built sideboard you should be able to get pretty much everything the charms can do with your cunning wish just from a traditional sideboard, flusterstorm, rav trap, hurkyls, and dismember. I could however see playing cunning wish being played with the nivmagus printing to fetch up a brain freeze or infiltrate for him as well as being able to get other utility.