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Why not use the first Jace?

Just use lots of control and shuffle. 

I can assure you of this...milling is not a very viable strategy against many decks.  There are a lot more decks than you think that LOVE having their cards in the graveyard, either because it makes some cards ridiculously powerful(thus, you're feeding your doom), or because it makes it easy to cherry pick what they want( this guy , for one example).  That being the case, you want a LOT of graveyard hate, and I'm not sure how much mono blue has, which means you will have to go to artifacts.  Relic of Progenitus is a decent start, Brittle Effigy for the creatures that feed on GYs...I'm not sure about many others.  Alexi does seem to provide some help by temporarily removing stuff from the GY, but the temporary part is an issue.

For bouncing, try and find as many cards as you can that don't use the word target.  For Alexi, one general with boots or shoes , and you could be in serious trouble.  One stellar example that you should have in your deck: Cyclonic Rift .  Devastation Tide is another great one, miracle or no miracle.  If you use stuff like Unsummon , I'd recommend putting it on a cast-stick .  A good body to use would also be something like Time Elemental .

Card draw...well, you're in blue.  If you have trouble coming up with card draw, something's wrong.:D  But I would recommend this; use spells that say Target Player draws ___ cards.  That way, if you've got them down to their last few cards, to prevent any last minute saves, you can just cast something like Inspiration and force them into a loss.

Mill is fun and easy, especially if you make it UB instead of straight blue( Nemesis of Reason , Mind Funeral ). The big problems I have are the number of players I run across that have Elixir of Immortality and the two legal legendary Eldrazi to shuffle graveyards, and often other little things that keep the library halfway protected. Mass milling is hard with the graveyard stuff the opponents can do. If you can stomach losing your own cards, Planar Void is good, as is the always wonderful Leyline of the Void to help keep recursion out. Making the opponents draw is good too, if you can limit what they do with all their cards, such as using Prosperity , Forced Fruition , and Jin-Gitaxias, Core Augur .

Good luck though!

This is the deck as it currently sits. It is too large to be legal and a bit high on the mana curve. Any suggestions what to cut? Anything obvious I really should add?

Spell Burst ßhard counter

Syncopate ß Hard counter

Power Sink ß hard counter

Condescend ß hard counter

Jin-Gitaxias, Core Augur ßgo-to for shapeshifter to wipe hand

Stormtide Leviathan ßgo-to for shapeshifter to soft-lock attack

Arcanis the Omnipotent ßdraw combo with Alexi to keep plenty of cards

Aboshan, Cephalid Emperor ßdefensive

Guile

Aethersnipe ßreturn

Balance of Power <-draw engine="" p="">

Azami, Lady of Scrolls ßdraw engine

Devastation Tide ßedh bounce

Scalpelexis ßflight protection, mill

Psychic Spiral ßmajor mill card to feed on my own mill/’reminisce’ my own grave

Riptide Shapeshifter ßtutor to board or hand control

Parallel Thoughts ßtutor

Gush ßdo I need this draw?

Aeon Chronicler ß mass card draw house, draw engine

Riftwing Cloudskate ßbounce, flight protection

Mulldrifter ßdraw

Jace, Memory Adept ßdraw/mill engine

Traumatize ßmajor mill

Evacuation ßmass and EDH bounce

Teferi, Mage of Zhalfir ßanticounter/control

Alexi, Zephyr Mage ßEDH COMMANDER, Bounce board control.

Controvert ßre-usable counterspell

Last Word ßuncounterable hard counter

Statecraft ßcreature stall

Jace, Architect of Thought

Wash Out ßmass bounce EDH bounce

Heartseeker ßon site EDH killer

Icy Manipulator ßcontrol

Propaganda ßattack stall

Jace's Archivist ßdraw/discard engine

Compulsive Research ßdraw/discard

Reality Acid ßdestruction of difficult permanent

Daring Apprentice ßcounter dork

Spiketail Drakeling ßcounter dork

Quicksilver Fountain ßboard stall/control

Fabricate ßtutor for stick, greaves, various artifacts on cue

Drift of Phantasms ßblocker but mainly a transmute tutor

Cancel ß hard counter

Repulse ß Bouncing cantrip

Ambassador Laquatus ßmill engine

Jace Beleren ßdraw/mill engine

Man-o'-War ßbounce dork

Vexing Sphinx ßdraw/mill flying fattie

Sands of Delirium ß mill engine

Wipe Away ßunstoppable bounce

Withdraw ßbounce (stick viable)

Wall of Tears ßBlocker/bounce

Wall of Deceit ßblocker/morph/attacker

Fathom Seer ßDraw dork

Isochron Scepter ßbounce/counter/creat nerf on a stick

Counterspell ßhard counter isochron target

Lightning Greaves EDH protector

Cyclonic Rift Isochron target, EDH bouncer

Ovinize ßcreat nerf/isochron target

Mind Stone ßmana accel/draw

Elixir of Immortality ßself de-mill/life stall

Mark of Eviction ßbounce… possibly irrelevant after EDH hits

Seal of Removal ßOn site edh bounce

Mana Chains ßslower creat kill, possibly irrelevant

Pongify ß creat nerf, stick target

Relic of Progenitus ßgrave hate en masse

Scrabbling Claws ßgrave hate small scale with target

Ancestral Vision ßdraw

Library of Leng ßdiscard savior/hand size enabler

Ivory Tower ß hand size life converter/stall

Jace's Phantasm ß mill-enabled flying fatty

Lotus Petal ß Mana accel

Chrome Mox ß Mana accel

32x Island

Rogue's Passage ßtank or edh attack enabler

Terrain Generator ßland drop accel

Reliquary Tower ßhand size enabler

Lonely Sandbar ßland pass to draw.