All Wizards you control get +2/+1 and have flying, not just those created by Docent of Perfection or Final Iteration
5 mana is perfectly accessible for a casting cost, and with a way to move your permanents out of harms way or cast them from suspend or the graveyard, it has almost no equal when it comes to facilitating the end of the game
Once they do, the game will treat it as if they have four copies of the new printing
You don't have to worry about anything happening to you to recover your spent mana
The season ends on May 13 at 12 p.m
Its hard looking at a card like Chulane and finding faults, but if you needed to nit-pick, you could criticise the mana cost for requiring three different colours, or the fact that it doesnt come with any ways to reduce mana costs for creatures you play