This card is crying out for split second. As is, it's mostly sorcery prevention (and now planeswalker delay); spells already on the stack resolve, and instants & activated abilities can be cast/activated in response to Abeyance. Still, it's white, it's cheap, it can cause opponents to stumble and make errors, and it cantrips, so it's good.
It's also useful in 
storm combo decks' sideboards, since it effectively prevents Mindbreak Trap and Flusterstorm from shutting you down. There are good alternatives for that to consider (Defense Grid, Xantid Swarm), but none of those provide the cantrip draw effect.
Posted By:
Salient
(1/24/2012 9:02:33 PM)
When this card first came out, people thought you could play it in response to a spell and it would counter the spell, stop your opponent from playing anything else for the rest of the turn, AND draw you a card.
Needless to say...it didn't turn out to be quite that good.
Posted By:
EGarrett01
(1/31/2013 5:52:18 AM)
One has to wonder what Ertai's metrics of modesty were...
Posted By:
SkyknightXi
(3/3/2013 1:07:13 PM)
@EGarrett01: When it first came out, it also stopped people from playing mana abilities (which meant it effectively shut down summons, artifacts, and enchantments if cast during their upkeep.)
Sadly the errata shut that down.
Posted By:
Aquillion
(3/26/2013 11:04:51 PM)
My instant reacton to seeing this cards is, 'yea right, ertai, you're a fuc{}ken doucher.'
Posted By:
raptorman333
(4/9/2013 1:55:08 PM)
Damn you Abeyance, you ruined my ongoing Bloom combo.
Posted By:
ExzcellionGamma
(7/24/2013 6:02:32 AM)
Before the errata, this card was practically a white Timewalk that was unrestricted. All it gave your opponent during their turn most of the time was an attack phase (if they even had creatures in play) and a draw (which was somewhat offset by the fact that this is a cantrip). It was sooooo broken. How it came to be printed with that wording, I will never know.
Posted By:
Phloid
(8/26/2013 9:11:49 AM)
One of several cards that has been improved by planeswalkers. The ability to stave off an ultimate ability can be vital, and the number of additional tactics this shuts down make it well worth the deck slot, especially since it cantrips. Very few cards can lock down playing of activated abilities like this, which definitely gives it a niche.
Silliest use: Prevent an opponent from redirecting Lightning Storm by casting this and redirecting it yourself after it resolves.
Posted By:
LordRandomness
(3/14/2014 12:30:30 AM)
This card is involved I of the most electric moments in pro-tour history.
Listen to a retelling of it here:
http://markrosewater.tumblr.com/post/83836461740/drive-to-work-116-pro-tour-coverage
The whole thing is good, but the setup starts at about 25:30 into it.
Posted By:
kiseki
(4/26/2014 12:22:04 PM)