I voted Overpowered. In an average monotime deck, you'd probably find one creature in three draws. Even if you didn't find any creatures, you're still drawing three cards from your deck, and presumably those will still be useful, even if they are not time creatures. This card is also colourless, so you can put it in any deck. ANY deck. I would put six of this in every deck I owned. Firestall? Add six, draw more stuff. Poison dial? Add six, draw more stuff. Rainbow Control? Add six, draw more stuff. Monoaether? Add six... you get the idea
Re: Ralouf: Imagine this card says Ancestral Recall: Draw 3 cards, then put all blue creatures into play :p
Anyway, for balance purposes, I think that if the card were placed into a specific element and gave you a one card draw with the same ability (either for time or maybe another element, if you changed the name) that it would be balanced. For example, a life card that costs 5
and says draw one card and if it is a water creature, put it into play, would be reasonable. (or whatever two elements suit your fancy; that's just an example)