Oblivion Ring is pretty darn amazing.
Even Aggro decks could make easy use of Oblivion Ring, its just that good of a removal card.
Well if it means much you guys got Arrest to replace it for now. Its kind of the same thing...'cept the monster is still there on the field (but can't attack, block, or activate). I ain't sure that will make enchantment decks work since it depends on other support they have in M11. :s