You must follow all normal timing rules for spells cast using the second ability and must pay all costs for spells cast this way
It can work like a 001-064 for 1 less ink, provided you hit two character cards off the top of your deck
A moderate diamond cut is allowed, and wax staining on the front is acceptable
However, if you've drafted a mediocre black-red deck just so you can play your Olivia Voldaren, you're going to end up losing a lot of games where you don't draw her or your opponent has a way to deal with her
Over decades of competitive play, many a Magic card has either fallen out of valid use or been outright banned from official play altogether
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