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Draw 1 card, then your opponent gains 1000 Life Points.
This card is used in decks which crucially need specific cards, like combo decks. When they go off are hard to stop, but they need all of the combo pieces. This card thins the deck. And giving your opponent 1000 LP for each of these activated is not as big drawback.
Yes. This is the card popularized by Pat Hoban.
It has a very simple and easy-to-understand effect. Provided that you run three copies of this card it will virtually allow you to play with 37 cards in your deck which will enable you to gather your combo pieces faster. You don't have to run all three copies of Upstart Goblin if you don't need to, though.
Oh and do not run Upstart goblin if you have more than 40 cards in your main deck. It defeats the point of Upstart Goblin altogether.