Any cards you splice onto a spell remain in your hand, regardless of what happens to the spell after you cast it
For instance, despite all five Titans being legal, Elesh Norn was a dominant Standard card on multiple occasions, most memorably in its role of what you can Birthing Pod a Titan or Wurmcoil Engine into. Creatures (28) 1 Llanowar Elves 1 Solemn Simulacrum 4 Birds of Paradise 1 Acidic Slime 1 Inferno Titan 1 Wurmcoil Engine 1 Viridian Emissary 1 Elesh Norn, Grand Cenobite 4 Blade Splicer 1 Fiend Hunter 3 Avacyn's Pilgrim 1 Geist-Honored Monk 4 Strangleroot Geist 4 Huntmaster of the Fells Lands (24) Spells (8) In a format full of haymakers, Elesh Norn was one for the ages, particularly alongside lots of small, dorky creatures like Llanowar Elves and Germ tokens
Zone-change triggered abilities that care about the new color (like "whenever a [color] permanent enters" or "whenever you cast a [color] spell") will also work
One in three packs will have a traditional foil card of any rarity that replaces a common
It lets you risk milling yourself out, but can give you a whole host of board presence in the late game