Here is the list as I copy paste it from Jason's article :

4 Maze of Ith
4 Desert
18 Island
3 Turnabout (Uncommon)
2 Curiosity (Uncommon)
4 Sigil of Sleep
4 Hermetic Study
4 Horseshoe Crab
4 Counterspell
3 Prohibit
2 Intervene
4 Opt
4 Impulse

I do think it can be fun, even if in its actual form, way too slow to do anything. How can we speed it up ?

First, we have to check how this deck wins, or at least intends to. Horseshoe Crab + Hermetic Study + Turnabout is indeed an efficient way, but it needs a lot of mana and is in no way an infinite combo. And that's the main problem.
You can't expect to have an enchanted crab on table before turn 4 with this build, and it won't be active before turn 5, when it will only hit 6 points (float 5 mana, provided you got one island per turn, use 4 for a Turnabout, float 5 more mana...).
None of the other spells can speed this up, and you can only control your opponent, which is, with only 3 Prohibit, and 4 Counterspell, is quite hard. Sigil of sleep needs the Crab, and Intervene is meant to protect it.

So what ? Trash the whole deck ? Remember, this build was designed back in 2002. There was no such things as Pemmin's Aura (ever noticed this was "I'm Superman" anagram, Superman being Morphling's nickname ?), nor Paradise Mantle.
You should where I want to lead you : an infinite combo with Paradise mantle producing blue mana to feed Pemmin's Aura untap ability. The damage thing will be a red card, including a classic mechanic with a combo taste : Goblin Medics.
While Prodigal sorcerers-like have to be tapped to ping, these guys ping every time they get tapped. Quite the same, but slightly different.
Equip the Medics with the Mantle, enchant them with Pemmin's aura, and you have your loop.

The bad news are : these are unco. The goblin is a common, so you can have a full set of it. The Mantle and Aura are both unco, but luckily, you can switch the Aura for its common counterpart from Saviors of Kamigawa : Freed from the Real.

This aura will take Hermetic Study slot, while Paradise Mantle will fill 4 of the unco slot. I'd take the fifth for a Fact or Fiction. 26 lands is just too much, so we drop down to 20. I'll keep one Maze of ith. Sounds fun, and I just discovered it was a common... It must be the most expensive common I know of.
By the way, we need red mana to cast our Medics. Since this deck is heading towards control, I'll put 4 Izzet Boilerworks. As it comes into play tapped AND bouncing one of our land, we'll have to be careful about when to play it, basically one turn before go off, and with enough mana to protect it from land destruction.

Good news, with 6 lands less, you got 6 slots left. Plus the out of date cards.
Let's begin with these.
Prohibit is just too expensive for its effect. I've long been fond of this kind of versatile spells, but it happens that versatility is always worse than brutal power. For the same mana cost, we can choose Mana leak, Rune snag or Memory lapse. Mana leak had my preference, but Rune Snag seems very strong : it grows all along the game, and grows even stronger against MBC and its Hymn and Duress.

Intervene may seem a wise choice, but since we're going to have more counters than before, I replace it with Disrupt : both cards can only target a spell, but Disrupt has a wider array : you can make fizzle that Duress or Lighting bolt, and even ruin that Tides deck, Disrupting its Prosperity ! The "unless opponent pays 1" is not so much drawback. You still have counterspell if you want it the hard way. And Disrupt is a cantrip, which can only serve you.

Impulse. Well, I'll take Brainstorm here. You go one card deeper with Impulse, which is, IMHO, not worth the additionnal mana it needs.

Sigil of the sleep is useless since we don't want to control the board that way : we'd rather not allow creatures to hit table. Moreover, back in 2002, PEZ metagame was a creature one. As I said earlier, IsoBurn, Tides and MBC don't care that much of creatures. But there's still creatures out there. Drift of phantasm is just a decent flying wall that can cycle into a Goblin medics or a Freed from the Real without being countered. It's also a creature that can be equipped with the Mantle to cast the Goblin, you know, just in case...

So we've got 6 slots left. I'll try 2 chromatic sphere. Mana conversion and draw, the sphere  can be targeted by artifact removal that will leave Mantle free.
And for the 4 remaining slots, let's try a Tidewater Minion / Lava burst to combo off with Freed from the Real and Izzet boilerworks. Just to have a plan B. And Tidewater Minion can loose Defender. But if you have to rely on this very loosy plan C, you'd better concede the game.

So here how it looks like in the end :

Lands
1 Maze of Ith
15 Island
4 Izzet boilerworks

Creatures
4 Goblin Medics
4 Drift of phantasms
2 Tidewater minion

Other Spells
1 Fact or fiction
4 Paradise Mantle
4 Freed from the real
4 Counterspell
4 Rune Snag
2 Disrupt
4 Opt
4 Brainstorm
2 Lava burst
2 Chromatic Sphere

You just have to test it, I guess !
Have fun !