It's actually slightly slower, but I find it makes up for that with consistently beating more powerful decks.
I actual went -1 Drain Life, -1 Dusk Mantle, -1 Nightfall, +2 Steal, +1 Pillar.
The problem is the only available weapons are garbage compared to the other cards. Also, I normally steal their weapon anyways at higher levels. Right now I have lost a single game at level three with this build, and can win a good 40-50% of half-blood games (so long as my speed beats theirs).
Obviously it cannot beat FG reliably even upgraded, but I think it's cheaper and more reliable than fire in building a rainbow deck. It's also just a fun deck in general.
The one thing is that the deck fairs pretty well at top50 or level 5 because I can continually steal the dimensional shields for my own benefit and the AI gives me enough of an edge. Once you play the opponent's deck for a while you know about how much keep in reserve for drain life and what must be stolen, making your job much easier.