I can't tell if Ancestral Knowledge is contextually bad or not.
For instance, absent any context, Dark Bomb is a patently inferior Frostbolt,. But given the other tools Warlock has, Dark Bomb is excellent for them. Conversely, Gallywix may be a great card (as is now mentioned frequently in this thread), but does not work well with the other cards Rogue has, so it's "bad" in that it doesn't work well in the Rogue context.
Ancestral Knowledge is pretty clearly worse than Arcane Intellect, in a vacuum. But I'm not sure that's unfair until I see how it plays within the Shaman context.
For instance, absent any context, Dark Bomb is a patently inferior Frostbolt,. But given the other tools Warlock has, Dark Bomb is excellent for them. Conversely, Gallywix may be a great card (as is now mentioned frequently in this thread), but does not work well with the other cards Rogue has, so it's "bad" in that it doesn't work well in the Rogue context.
Ancestral Knowledge is pretty clearly worse than Arcane Intellect, in a vacuum. But I'm not sure that's unfair until I see how it plays within the Shaman context.