What does Lighthouse Chronologist do on a Saturday night? He meditates! If you can get extra turns somehow, this card can be great, especially if you have nothing to do on one of those extra turns. In slower formats like EDH, you can also drop this really early game for extra cards since losing that one turn probably won't be that detrimental. Opportunity can also draw you 4 cards, but since it costs 6 mana, it may be too expensive in certain situations. The major problem with this card is that you do have to skip your next turn. However, there is a deck that I have on Lackey (a great deck-building program you can find here) that loves this card. The star? Chronatog.
Pros: 4 cards for 3 mana at Instant speed
Cons: Causes you to skip your next turn