Izzet Burn/Blitz - my first constructed deck

izzet can be a what they call a tier 2 deck.  Generally cheaper and not as effective as the top decks but built properly can give them a run for their money.  They're generally "meta" decks as well, meaning they can be built to beat popular decks at a given time, but generally aren't great by themselves.   That being said, you could use some general deck building tips. 

To get ready for an FNM test run you need to try the following.

Izzet is generally going to play like a control/midrange deck.  They're going to play few creatures, and try to protect them to win, or play alternate win conditions like burn and try to control the board.   You need to decide if you're going to keep the white.  Most RUW decks (red blue white, american) play like control decks and play just a few win conditions then protect those win conditions.  There is a midrange version you can play too.

Lands - more of them, better ones.  If you don't want to invest in the check lands (sulfur falls, clifftop retreat, glacial fortress), you should at least try to invest in the shock lands, they'll be standard leagal for the next year. Hallowed Fountain, Sacred Foundry, Steam Vents, also you need more, a control/midrange deck will run 24 lands minimum, usually 25-ish, depending.  Gates can be used, but they hurt your tempo.  See the following example.

land drops with check lands, and available mana.

Turn 1:shock land, 1 available (possible 2 damage if needed to play untapped)
Turn 2:check land, 2 available
Turn 3:check land, 3 available
turn 4:basic island, 4 available

You could have cast 10 mana worth of spells assuming you had a 1 drop and spells to cast on subsequent turns.

Now with gates.

Turn 1: Shock land, 1 available
Turn 2: Gate, 1 available (gate comes into play tapped)
Turn 3: Gate, 2 available (gate comes into play tapped)
Turn 4: Basic Island, 4 available.

You could have only cast 8 mana worth of spells, if your opponent cast a farseak or ramped with an elf, your down 2-4 mana depending on their line of play.  A very bad position for a control deck to be in.

Spells - are you control or burn?  are you control or midrange?  Control decks use board wipes to help stabilize and keep your opponents threats of the board, mizzium mortars, supreme verdict, ratchet bomb, bonfire of the damned, Cyclonic Rift. You also need to be able to draw, Think Twice, Divination, Auger of Bolas,Azorius Charm, Sphinx's Revelation (bread and butter for a lot of control decks), you need spot removal too, that's instant or provides additional effects or both, Izzet Charm, Azorius Charm, Searing Spear, Pillar of Flame, Detention Sphere, Also Turn/Burn is a must in any deck with red and blue. You need at least a couple counter spells like dissipateand syncopate, they have an exile component that is important currently.  Negateis okay, but I would only run one of those, Essence Scatter can be a 1 of as well in addition to the dissipate and syncopate.

Creatures - control decks play 0-10 creatures where most midrange decks play, 10-20-ish, control decks will try to get the game to a place where they can either play their threat and start beating their opponent, where as midrange decks usually stick multiple threats on the board and attempt to trade up with 2 for 1 spells and effects. Guttersnipe can be good, if built around properly, Nivix Cyclops and Young Pyromancer

Getting down to 75 is a good start, (60 main, 15 side).  Obviously as a new player you wont' have access to everything I mentioned, but you can look at the deck lists below learn from what they're trying to do.  Right now you're kind of all over the place.

Deck examples
http://sales.starcitygames.com//deckdat … ckID=58170
http://www.channelfireball.com/articles … yromancer/
http://www.mtgtop8.com/archetype?a=262

There's a magic "m" button that puts "[mtg][/mtg]" around a word or set of words, if it matches the exact name of a magic card it will do the pop up for the card/link.

A lot of new players mention budgets and I get it, I'm married with 4 kids.  But if you want to improve your deck then you need the cards that will do that.  You can draft and do limited events while you trade and work on a deck you want.  You can buy packs when you don't know what you want and then trade if you pull anything good.  Once you build up some inventory and are able to trade for stuff, a $10 card becomes nothing.  I traded for a archangel of thune and a couple lifebane zombies the other day, about $60. 

Limited is probably the way to go for you.  see if your LGS does $10 drafts... those are fun and manageable.  It also depends on your local scene,  if your FNMs are competitive like mine (30+ people, practicing for PTQs, opens and IQs, ) then you'll have a really hard and miserable time.  On the flip side you can learn a lot from these players and if you make friends with them they might let you borrow a competitive deck to play while you build your collection.

There are cards that you can include in decks to cover your bases, but in general you need to stick to a "plan" branching out into control when your deck isn't a control deck will water down your concept.  That's not to say you can have some control cards, izzet charm does a lot of stuff. Control isn't all about counter magic, but that's part of it.

Drafting can be a whole different animal... one that I'll openly admit I still need work on.  The best option there is just to keep playing them as experience is your best friend.

Given that you're up for Nivix Cyclops, I will direct you to Travis Woo's Nivix Blitz deck.  You can see it and the article related to it here:
http://www.channelfireball.com/articles … zet-blitz/

Normally Woo's decks are normally tier two (not the most competitive, often a bit janky), but the guy is a pro at the game who has won major events.  Further, all of his decks are at least competitive (they also score you major bonus points for fun and being different).  Further, a build almost matching this card for card placed in the top 8 of one of the major state qualifier tourneys recently, so you'll at least be able to keep with most of the "big boys."

Good luck!

You won't be unhappy picking up the shocks.  Not wanting to buy the snaps or geist is understandable they're about to rotate, but the lands will be good for you for a year or more.  Strongly recommend picking up the lands.

Get rid of these "2 Transguild Promenade" .  They hurt your tempo worse than a gate.  Put some basic lands in.

Other than not investing in giest and snapcaster, don't worry about rotation to much.  It's still a couple months away and just trade for cards from the RTR/m14 block.

off topic, Here's a fun control deck you might try to put together too.  Not terribly expensive either.

http://magic.tcgplayer.com/db/article.asp?ID=11315

it can be modified to replace some of the more expensive cards (except sphinx's I think you need those).