Seems simple but effective. Get a bunch of attachments back. It doesn't do anything on its own, so that makes me wary of it though.

It also feels like it would be a waste to kill this attachment rather than whatever was on the character that you were worried about. So, tough decisions for the opponent?

A bit like Daimyo's Favor, in that helps economy (in this case card economy) but at cost of card slots.

For Daimyo's Favour it becomes worth running for the sorts of decks that run a lot of costed attachments (like the Jade Masterpiece / Stone of Sorrows decks that are kind of popular right now).

For this card, I think we're looking at the opposite sorts of decks - the ones that like to go wider, with less fate on characters than most Dragon decks are currently playing, and focusing on the 0-cost attachments. In other words, I'd run 3 of these alongside 3 Katana and 3 Fan alongside a low-cost dynasty deck.

That means we're looking at a well-designed card here: it's a great choice for some decks, and a bad choice for others.

So if I am reading this right: If I play this with Reprieve, Pathfinder's blade or finger of jade, I just get to keep recycling these cards when they leave play after doing their thing? Do I really get to eternally reprieve my character?

You need to sacrifice reprieve to use it. You can't prevent the sacrifice because it is a cost to activate the effect. So reprieve gaining ancestral doesn't help it. 

And Ancestral wouldn't 'prevent the sacrifice' anyways. Ancestral triggers when the character leaves play, not the attachment. It's no use for saving things which discard themselves, such as PFB, FoJ, or Reprieve. It works with stick-around value attachments, such as Watch Commander, Tattooed Wanderer, Cloud the Mind (a risky choice), and the obvious Fan/Katana.

Thought it would be too good to be true. I had misinterpreted how ancestral actually works. 

so if I attach this to enemy character with Cloud the mind and pacifism, means I`ll get them back? Sounds good

I think you're right!

so if I attach this to enemy character with Cloud the mind and pacifism, means I`ll get them back? Sounds good

and with Embrace the void, yes =)

This card is really good now, and is only going to get better.  In attachment focus decks (or even decks just playing a few high impact attachments) this card reads "0-fate, draw X cards" where X is usually 2 or more.

Fun combos:  Embrace + Fires / Twist on your opponents characters, toss this on and embrace the next thing.

The card can generate a lot of value, but a card that sits dead in your hand until mid to lategame are usually a hard bargain.