Okay, so I've been testing this deck a bunch lately and I have to say, it's really strong. Here's is the final decklist with notes on the card choices:
Tormented Hero - Two-power one-drops are great in an aggro strategy and this guy gives you a little bit of reach with his Heroic ability.
Coordinated Assault - The deck is playing a bunch of weenies, so a power boost plus first strike acts as removal and lets you swing into a lot of boards that you otherwise couldn't.
Shock - An excellent removal spell in this metagame and a bit of reach to close out games all for just one mana.
Ulcerate - Combined with Shock, this gives us seven one-mana removal spells to clear the way for our little dudes. The life loss rarely matters because this deck is almost always the beatdown.
Bloodghast - The ability to recur this guy helps against a lot of decks, and with Devouring Swarm we can sacrifice him to deal damage and get him back on the same turn.
Goblin Shortcutter - An absolute workhorse in this deck, he allows us to swing right through problematic blockers while adding a Piker to the board. All for just two mana.
Krenko's Command - Two creatures on one card lets us go wide and the tokens can also provide a bit of reach because we can sacrifice them to Devouring Swarm.
Hellspark Elemental - This guy is insane because no one wants to spend removal on him or block him, and you get to bring him back for a second round if you have no cards or just have some excess mana to spend.
Devouring Swarm - Some much-needed evasion and the sacrifice ability lets you force through damage by sacrificing those otherwise-useless goblin tokens. It also protects your guys from opposing threats like Act of Treason or Switcheroo as a bonus. Free sacrifice outlets are always good.
Goblin Rabblemaster - Probably the best three-drop for any aggro deck, this guy is insane.
Agent of the Fates - I'm not playing this guy for his Heroic trigger, but just for the body. There are five spells in the deck that can trigger him (twelve if you count Shock and Ulcerate), though, so you can get some marginal upside from time to time.
Act of Treason - Basically, this is the fifth Shortcutter that also acts as a pseudo-burn spell. I would never want more than one, though, because it can be a dead draw. There is upside considering you can sacrifice stolen creatures through Devouring Swarm, but that's just gravy.
Graveborn Muse - This type of deck can run itself out of cards quickly and also tax the opponent's removal. In that type of game, this gal refills your hand and gives you the gas to finish where you otherwise couldn't.
Banefire - An extra piece of removal if needed, and a mana sink in case you flood out. This can close a lot of games.