I don't see how people are saying this is a bad card. It has a lot of versatility. It can be used to kill a low health enemy minion or you can use it on a 3 or more health minion of your own to kill an enemy taunt minion. I think its actually quite good for a removal tool which hunter is kind of lacking at the moment.
Nice, an arcane shot that cost 1 extra mana and buffs the minion you used it on. Truly this is what hunters needed. Can't wait to deal 2 damage to my minions just so that I can trade them in. 2 for 1 value!
Interesting card to say the least. In a different class it might see some experimentation, but in hunter I think it just won't make the cut, as most hunter decks just want to play stuff and kill the opponent. I mean, hunter already has access to other removal cards that barely see play.