Black/Red Feast and Fate

Level of competition?  FNM or higher?  Tier 1 decks or home brews?  What is your proposed strategy?  How about the budget to improve?

C'mon... you give minimal effort in the posting and you shall receive minimal effort from the community to actually give you useful feedback.

First off, there's no need for snarky attitude here.  If you're trying to learn, it would do you well to a) ask questions, b) read through other posts to see what sorts of descriptions get the most responses, or c) look at the stickied instructions for posting in the deckbuilding forums on what types of information you should post with the deck.  Simply saying, "Here's a deck, what should I do with it?" doesn't give us much, if anything, really work from.  As far as teaching the community, if you post questions, I will happily answer them but without any information, well, I'm not going to go to the effort and as you can see from previous posts, nobody else will either.  Lastly, I certainly don't need to spend time dealing with attitude so you can check it at the door or get out - this community is doing just fine.

As far as the actual cards here, Type II still refers to standard.  FNM refers to Friday Night Magic, typically where most of us go to our local game stores (LGS) to play.  Most commonly stores have standard constructed tournaments (as standard is the largest format outside of casual play) every week, but that will vary depending on where you live and your LGS - mine is almost exclusively draft to give you an idea.  With regard to the Tiers, Tier 1 refers to the decks that are the most competitive in the format - aka the types of decks that the pros are taking to the major competitive tournaments (Grand Prix, Pro Tour, Star City Games Open, etc).  Tier 2 decks refer to quality decks, but not the premier archetypes that really dominate the format and solid brews - note that pretty much everything that isn't net-decked is likely going to be below Tier 1 and, in many cases, won't even be Tier 2.  As far as the strategy, describe what you think the ideal hand would be and how you think the first few turns will typically play out.  Are there cards you're particularly concerned about running up against?  Match-ups?  Do you want a complete overhaul or do you think it just needs a slight tweak here or there?  Lastly, for the budget, it's best to give a heads up about whether you're up for dropping $200 on singles or whether you're trying to keep things on a more reasonable budget - for instance, me saying "go get 4x Thoughtseize" for your deck doesn't help much if you're only looking to drop $20 on the whole project.

Now, for the actual list: I'd suggest not worrying about Fate Unraveler in the mainboard - it will help in the sideboard for longer games, but the whole plan here is to finish the opponent off in 4-6 turns, meaning that Master of the Feast, with any luck, will kill the opponent before the card advantage he generates for them is meaningful.  I would say to take a look on TCGplayer's deck page at the "monoblack aggro" for some guidance as the deck is putting up solid results at the moment and doesn't look to be all that pricey.  Personally I think Madcap Skills could do a LOT of work for you given the Rakdos color scheme, but that's just me - sure, they rotate out in Sept/Oct but they'll cost all of $1-2 for a playset.  Note that Mutavaults really don't help that much as they'll screw up your colored mana availability - I would actually suggest trying to pick up the Blood Crypts and Temples long before you worry about vaults...

when it comes to sideboarding.  don't think of your deck as a 60 card deck think of it as a 75 card deck.  Most people will  know what they're facing in the meta to know what to include to be deck xyz.  Since you're starting fresh again, you need to look at what's available and think about what you would need to beat the mirror?  aggro? control?  heavy removal decks? heavy creature decks.  Include as much as you can while sticking to the the theme of the deck.  Then cut 15 cards from the deck  that are to beat a given archetype/s. 

with your deck specifically. you're an aggro deck and you need some reach IE: burn.  Some lightning strikes definitely need to come in and i'd like to see some skullcracks in the sideboard.