It also plays well with certain enters abilities that are much stronger when they happen at instant speed, like those that make opponents discard cards
Deep Clue Sea (Green-White-Blue) appropriately situates Clue tokens for card advantage, and Blame Game (Red-White) is full of goading effects and identifying suspects
Memories of Nibelheim The 1/1 drawback is quite annoying, so Stroke of Midnight compares unfavorably to most common removal
Activate only if enchanted creature is white and untapped and only once each turn
You can see the Elven Empire precon's decklist here
Set Number 23 Language Italiano Legal Formats Commander, Legacy, Modern, Pauper, Vintage Not Legal Formats Alchemy, Brawl, Competitive Brawl, Historic, Pioneer, Standard, Timeless Rulings (10/1/2007) If Oblivion Ring leaves the battlefield before its first ability has resolved, its second ability will trigger and do nothing