Ah, you mean SG´s (almost unupped) FG-Rainbow (
http://elementscommunity.org/forum/index.php/topic,1615.0.html), ,which is also mentioned in the "how to become rich in 1 day tutorial".
This tutorial is OLD, and many new cards and new False Gods were introduced, FGs like Osiris, Eternal Phoenix, Neptune... and our new 5 FGs.
But the basic idea is still great. I think it can also win often, but slowly against AI5.
Deck:
4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4sa 4vm 52n 52r 592 5c6 5c6 5f8 5oj 5ro 5rp 5rp 5rp 5rp 5rp 5rp 5up 61t 621 621 74b 74b 7q5 7q5 7q5 7q5
to the modifications:
More elves , mixtures of upgraded and downgraded elves are good ideas. I often use unupgraded elves, because they can be used to mutate evil creatures, the upgraded elf can´t be used this way.
Anubis, Quintessences are good ideas to improve this deck.