You save a lot of mana when you skip the equip cost, whether you put the equipment on the token or the commander
Even the base printings of Gemstone Caverns are worth around $50, so no matter what, you'll be happy to open a copy, and very, very happy if you happen to open Gemstone Caverns #51.
Heres an early proposed list: Creatures (25) 4 Psychatog 2 Putrid Imp 4 Mesmeric Fiend 4 Ichorid 2 Dark Confidant 2 Dimir Infiltrator 3 Golgari Grave-Troll 1 Golgari Thug 3 Stinkweed Imp Lands (20) Spells (15) Remember, this was before people thought about Dredge as being a mechanic that lets you skip your draw steps in order to rebuy cards youre not going to play

For instance, the card does some amusing things in Vintage: Creatures (4) Planeswalkers (3) Lands (15) Spells (38) 1 Sensei's Divining Top 1 Brainstorm 2 Mana Drain 1 Vampiric Tutor 1 Mystical Tutor 1 Yawgmoth's Will 4 Force of Will 1 Mana Vault 1 Sol Ring 1 Demonic Tutor 1 Hurkyl's Recall 1 Time Walk 1 Ancestral Recall 1 Mana Crypt 1 Time Vault 1 Merchant Scroll 1 Thirst for Knowledge 1 Tinker 1 Voltaic Key 1 Black Lotus 1 Mox Emerald 1 Mox Jet 1 Mox Pearl 1 Mox Ruby 1 Mox Sapphire 1 Ponder 2 Thoughtseize 1 Nature's Claim 2 Mental Misstep 2 Flusterstorm 1 Toxic Deluge Sideboard To begin with, its not hard to get your Blightsteel Colossus to survive your own Toxic Deluge, but if your opponent plays one, you can just Deluge for eleven
Sorcery Color tag templates(None) Demonic Tutor Search your library for a card, put that card into your hand, then shuffle