I took this deck from rank 5 to legend today, only losing 5 games along the way, so my winrate was 30/35 = 85.7% (yes this percentage is unrealistically high, but the sample size is also very small, so results will vary wildly I'm sure).
Anyway, I'll just briefly mention the few differences between my list and some other lists.
Seriously, this card is so good, definitely underrated. I dropped both Naga Corsair because the +1 durability is so much more important than +1 attack. It also provides a decent-sized body the opponent needs to deal with. Ideal plays feat. the Captain:
With coin: Turn 4 Coin + Arcanite into Turn 5 Greenskin (yes, even PW can be conservative at times and not throw out the coin on turn 1/2. Depends on both the match-up and if you draw Greenskin early enough).
If you don't have the Captain, I'd probably just play Naga in its place. I wouldn't recommend crafting it unless you love pirates; I got it in a pack, so nothing to lose on my end.
This is another card I find underrated and certainly better than Naga Corsair. While the body is weaker, it gives you some tempo by clocking some totems for 2 damage with the weapon. It also gives the deck an additional weapon to land upgrades on, or to replace the weak weapon supplied by N'Zoth's First Mate later in the game. I recommend only running 1, since 2 can be clunky.
3. Only 1 Mortal Strike
The card just costs too much for what it does. 1 is nice to have to bypass taunts for an otherwise out-of-reach lethal, but having 2 in hand at the same time is awful. It was for this reason that I subbed out the second Mortal Strike for Arathi, because there were enough instances of this happening in-game where I would've preferred having Arathi to play instead.
Everything else is pretty standard, so I'll only bother writing a mulligan guide if it's requested enough, but I'm sure most people have seen enough PW strategy guides by this point.
This may be the last hoorah for PW if the meta shifts a bunch with the new expansion next week, so enjoy.