Changes July 23, 2015:

The Final Fortune + Sundial of the Infinite stuck on a Isochron Scepter was super annoying to put together in game, since sundial and fortune don't do anything without the other two, and it was super tempting not to imprint Brainstorm or Counterspell on the scepter really early.

Added Jace's Sanctum. Talent of the Telepath is really cool and I love the art, but the effect is so underwhelming and situational.

Added Propaganda to discourage attacks, this deck is really bad against fast aggro.

Maybeboard: Added Pongify and Rapid Hybridization because unconditional creature removal is great even if it drops a 3/3.

Added Dissipation Field, trying to get more effects that discourage attacking, but I'm not quite sure if I need another or if bounce is good enough.

Added Treasure Cruise. Good enough to be banned in Modern, just don't know what to remove.

A Melek EDH deck I made based off a lot of other U/R EDH decks made by friends. This deck is focused on combos and counters and burn spells, oh my. When you play this deck, you'll feel a little blue.

EDIT: Thanks for the help r/EDH :D

Intro

I'm not a veteran Magic player by any means, I only know the older cards from playing with others and recommendations on Amazon. Feel free to critique! Am I missing some neat combos or counterspells? Don't hesitate in telling me! This deck is my pride and joy, I'm an Izzet player at heart and would love to see new, crazy, creatureless interactions! I don't want to dump too much money into this deck though: Sensei's Divining Top and Scroll Rack are a bit out of budget. Also my playgroup complained that my turns took too long when I had it proxied.

Deck Summary

This deck is a instant/sorcery based deck that wins by going infinite or by boring the opponents. It is a very overwhelming deck for newer players but isn't necessarily that difficult to pilot. Don't play this deck if you don't know what the stack or priority are, or you want to keep your friends.

Below is a list of notable cards. If they do multiple things, I listed them under the category of which they excel at.

COMBOS

Basalt Monolith + Rings of Brighthearth : Rings of Brighthearth copies the untap effect for less than the mana produced by the monolith. Produces infinite colourless mana.

Reiterate + Turnabout : This combo produces infinite mana. Requires at least 10 mana from either creatures, artifacts or lands. Throwing a High Tide in there allows it to be done much quicker.

WIN CONDITIONS

Banefire + Red Sun's Zenith + Comet Storm + Devil's Play: These spells are what you dump all of that juicy Reiterate + Turnabout mana into. Comet Storm can kill all opponents for a little more mana, but mana cost doesn't matter as much when you've got a million of it.

Blue Sun's Zenith: Same principle as above but can be used on you, you masochist.

CANTRIPS

Brainstorm: The best cantrip for this deck, allowing you to put whatever spell you want to copy back on top to allow a Melek cast.

Electrolyze: Draw on a shock is very relevant, whether it's just to hit an opponent, or to kill small utility creatures and mana dorks (Eg. Guttersnipe, Noble Hierarch, Talrand, Sky Summoner, etc).

Fire/Ice: A decent card that can cantrip and save your life for a turn by tapping down a beefy attacker, or killing off two mana dorks. It's okay.

Ponder: Really solid, the fact that it allows you to shuffle the cards is amazing.

Preordain: Scry 2 into a draw. Great, but not as good as Ponder and Brainstorm. This card serves a different purpose than Gitaxian Probe, so I don't think it would be fair to compare the two.

DECK MANIPULATION

Crystal Ball: Scry 2 every turn is cool.

Halimar Depths : Top deck manipulation stuck on a land is very decent; fixing your draws early and stacking the top for Melek late.

Proteus Staff: This is the ace in the hole, the reason this deck runs no other creatures. By running only one creature, you can reorganize the entire library. Bonus: Put all lands on the top and Treasure Hunt .

DRAW

Deep Analysis : A pretty weak draw spell because of its high cost for two cards and its sorcery speed. It makes up for it by allowing a flashback for a really low cost and a bit of life.

Desolate Lighthouse : Relatively high costed looting, but can be reused.

Fact or Fiction: Digging five cards deep, this is by far my favourite draw spell. By putting the cards from the other pile into the graveyard, it increases the amount of cards one sees and has access to during the game.

Frantic Search: A free loot effect that can net extra mana if a Temple of the False God and/or Izzet Boilerworks is on the field.

Impulse: Digs four cards deep and puts one of them in the hand for the low, low cost of 1U.

Izzet Charm: The weakest draw spell. This is outweighed by the fact that it can act as a soft counter and kill a small utility creature.

Jace, Architect of Thought : One of the weaker planeswalkers in EDH, but a very non-threatening one if just used for the mini Face or Fiction.

Rhystic Study: "Do you pay 1?" Great draw, but makes people hate you for being necessarily annoying.

COUNTERSPELLS

Counterflux: Uncounterable counter that can make Storm players cry.

Counterspell: A very cheap counterspell. If you really want to be annoying, imprint it on an Isochron Scepter.

Dissipate: Cancel that throws a wrench in graveyard manipulation.

Dissolve: Cancel with Scry 1 makes it worth it.

Forbid: A reusable cancel with a buy back cost that shouldn't be hard to fulfill with all the hand fillers in this deck.

Muddle the Mixture: A narrow counterspell that allows you to tutor.

Pact of Negation: Allows you to tap out and still moderate what is allowed to resolve. Remember that trigger though: Untap, UPKEEP, then draw.

Rewind: Generally 4 CMC counters are too expensive, but this outweighs it by the fact that it's basically free and can net extra mana.

Stifle: For those pesky cast triggers that can't be countered (Eg. Prossh, Skyraider of Kher, Maelstrom Wanderer etc) and other abilities.

Swan Song: A cheap counterspell, downside is that it can only hit sorceries, instants and enchantments.

Time Stop: The fun ends here. If an opponent plays a bunch of things on the same stack that you don't like (or maybe you just don't like them), cast this and make their turn end faster by ending their turn.

REMOVAL

Instant

Capsize: Buyback bounce. So beautiful.

Cyclonic Rift: The most devastating blue boardwipe. Only hits opponent's permanents, a must-have in every blue deck.

Shattering Pulse: It's really expensive but buyback is sick.

Turn / Burn: A very flexible kill spell. Bonus: Can be imprinted on Isochron Scepter and Turn is still able to be cast, but not both parts.

Sorcery

Blasphemous Act: Good for board states that have spiraled out of control or against token decks such as Rhys the Redeemed decks or Prossh, Skyraider of Kher decks.

Curse of the Swine: Can be used as single target removal or a boar-wipe. Exiling is the icing on the already delicious cake.

Mizzium Mortars: Flame Slash or a one-sided damage-based board wipe.

Vandalblast: Decent artifact hate. Bonus points if Mycosynth Lattice is in play.

MANA ACCELERATION

Seething Song: Relatively underwhelming but with the numerous copy effects in the deck, the mana acquired from this card can be insane.

Ral Zarek: I use him mostly to untap mana rocks/lands, but he can be used for his bolt. Resolving this walker paints a huge target on your face, taking extra turns is pretty useful.

TUTORS

Fabricate : Can fetch really useful artifacts such as the Rings+Monolith combo, Proteus Staff or Isochron Scepter.

Merchant Scroll: This can only get blue instants, but the deck has plenty of those.

Mystical Tutor: The best tutor for the deck, can fetch any of the combo pieces except Rings+Monolith.

COPY

Increasing Vengeance: One of my favourite copy spells. Can be pitched for loot cards and doubles in usefulness.

Melek, Izzet Paragon: The spell slinger himself. I don't have to tell you why he's the best commander in the universe.

Twincast: The basic copy spell.

RECURSION

Past in Flames: Spells are pretty cool. The fact that it can be flashbacked is amazing. One of my favourite spells in the game.

ETC

Dream Halls : Just testing it out to see how it plays, especially since the downside can be easily negated in a one colour deck with insane amounts of draw. Note that this affects opponents too. Watch out for those uncounterable stuff, otherwise you can just counter all their spells.

Temporal Trespass : I like it much better than most of the take extra turn cards because of delve (one of the best mechanics with this deck).

Afterword

This is my first commander deck and my favourite. My playgroup doesn't enjoy it as much as I do, so many of my games end up as 1v3. To those who build it, I hope it is as fun for you as it is for me. If you liked this deck, leave a +1 :)

LONG LIVE THE IZZET LEAGUE