3 ATK? Then why would you ever use this card over Shard of Bravery?
Because the non-elite do not have 6 shards of bravery
Now despite that, actually I think it is well balanced at its current cost/Atk. I have often wished for a cheap Time-quanta beater. This guy may seem powerful for the low cost, but most of the time if somebody made me draw a card I would thank them heartily. Also, if the opponent has a near-full hand, and you have more than one Ghost on the field, only a few of them would attack (they do not attack if the earlier ones fill the enemies hand, right?)
Essentially he's risky, and certain decks would deal with him better than others - for instance, 3HP is a great amount to get kaboomed by something, and if there's any chance of your opponent drawing that pesky shockwave this Ghost is hardly the best way to put it off.
Anyway long story short I like it