For me
Redirect seems like a bad
Negate due to missing enchants/artifacts/walkers and frankly I don't like Negate because justifying non-creatures in cube can sometimes be rather tricky, anyway. I'm tempted by all the cool, niche plays you might get out of it, but I'm not sure I'm sold. It seems very sensitive to power level and I dunno if it'd get ran over here since we rarely sideboard and holding up UU to jiggle around a specific subset of spells isn't always reasonable.
Deprive seems marvelous if you're looking to fool around with power level, but I felt that for conditional counterspells,
Prohibit was as conditional as I wanted. I find it hard to imagine feeling good casting Deprive before T5 though, and without Scrylands (which everyone should run, they're awesome!) I'm not feeling it.
Counterbalance looks awesomely fun and I've considered running it, as well. We love crazy decks over here, but it's definitely a playgroup-dependent choice. Without ample TOL manipulation, I worry it just feels too skill-less, though. It's one thing to be hosed by a well-crafted deck utilizing
Top/
Crystal Ball/
Brainstorm/etc, but being randomly countered by a deck that has no way to juice up the plan has got to be a bit of an "uh... oh, I guess it's countered.. darn." sort of feeling.
Of the three, I'd pick
Counterbalance and watch it carefully for my own format, but it seems really group-sensitive. Control decks want land too much over here to justify Deprive, though, and Redirect has exactly the problem you describe, being occasionally hilarious sometimes but probably frustrating/uncastable too often (I'd be more open to
Misdirection personally).
