I really only sacrifice creatures to give him haste, everything else is just the icing on the cake. Considering Bloodsoaked Champion can't block, and he comes back on his own, he's a very good target for it. It could backfire, sure, but the current Standard is also fairly low on spot removal ( at least compared to RTR/M14/Theros ). I'm sure I would run into bad situations if I started playing events, though. Also, he's a 5/4 flier for CMC 4. It's insane. I remember when demons still had drawbacks.
I'd take Hellrider of Hordechief, though. Haste makes a pretty decent difference, and the Hordechief's ability is very costly. It could be it's just the thing needed to win on T5, though. I don't know.
Still - 2 and 2 or something like that, I could see that working. Just need to get my hands on another one now.