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The printed card is actually a 1/3, Alchemy has some "rebalancing" to buff cards to try to mix things up (that's what the A on the card is).

https://gatherer.wizards.com/Pages/Card/Details.aspx?multiverseid=574301

Yeah commons are wordier these days but there are lots of commons that are "choose one of three minor effects" without the body attached, and I don't think this is a big leap in complexity over that.
http://i18.photobucket.com/albums/b136/Anteaterking/scan00021.jpg
http://i18.photobucket.com/albums/b136/Anteaterking/scan00021.jpg