Using the Geometric distribution, we can approximate the number of cards Treasure Hunt will draw. Assuming a sixty card deck, then the approximate expected value of the number of cards you will draw is 1/p, where p is the probability that you stop drawing, or about 1 - (# of lands)/60. While this isn't exactly the true expected value, it's close enough to make a decision.
Lands / Expected # of cards
22 / 1.58
23 / 1.62
24 / 1.67
25 / 1.71
26 / 1.76
27 / 1.82
Is 
too much to draw between 1 and 2 cards most of the time? I'll have to go with Ponder on this one.
Posted By:
FunkyMo109
(3/20/2010 5:14:25 PM)
Type your comment here.
Posted By:
Psychrates
(3/4/2012 10:19:18 AM)
ahahaha! just tore apart a $70+ exalted deck with 4 of these,
4 zombie infestation, 26 islands, and 26 swamps.
Thirty-Four 2/2 zombies on turn 3 for the win.
Posted By:
iantewks
(4/20/2010 6:38:08 PM)
No one mentioned Manabond yet?
Posted By:
A3Kitsune
(3/5/2010 12:10:46 AM)
i haven't seen anyone mention it, so i'll throw it out there. This + stuff to play additional lands (such as walking atlas) + the animate lands could make for a really interesting deck. With only a few non-land cards in your deck, you could blow up your opponent pretty quickly with just lands.
Celestial Colonnade
Creeping Tar Pit
Lavaclaw reaches
Raging Ravine
Stirring wildwood
Probably won't make tournament quality with this, but it'd be a really fun casual deck
Posted By:
Kurhan
(2/23/2010 6:24:46 PM)
Scouting Trek is the easiest combo I can think to break this, with Seismic Assault being the win con. It's an interesting new draw spell, and better than just another expensive sorcery with a fixed amount of draw.
Posted By:
Ritius
(2/8/2010 6:01:18 PM)
There's alot of good top 3 manipulation in standard right now so I really like this as a draw if you set up for it.
Posted By:
Lestat13
(1/30/2010 10:33:39 PM)
Just drop a halimar depths or ponder or activate jace, the mind sculptor.
Posted By:
jaylabs
(2/18/2010 12:01:36 AM)
Whenever I cast this i like to announce 'I'm going on a treasure hunt."
Posted By:
Storm_Crow0
(2/7/2011 6:48:11 PM)
You need a way to manipulate the top cards of your library; otherwise it's too risky, and you may end up spending 2 mana to draw 1 card. However, with stuff like jace's brainstorm (or even his +2 ability), the new blue land that lets you rearrange 3 cards, it can easily turn 2 mana into a 3-4+ card draw.
Posted By:
mdakw576
(1/30/2010 3:06:12 AM)