Here is an archetype in which you will be able to use Archmage Vargoth to good use.

Needless to explain how the Mind Blast OTK Archetype works, but Vargoth has some good uses in this deck.

It can be used as a second Prophet Velen when firing your Mind Blast, double draw from Power Word: Shield, firing Shadow Visions a second time to get draw a copy of a random spell from your deck in addition to the spell you tutored. Spirit Lash is more efficient at clearing and gaining life. Even Vivid Nightmare, that I don't own but would be a good addition to this deck would get you additional value from Vargoth.

Spells I would consider to cut would be the Psychic Scream, which is kind of a nonbo with Vargoth, but the spell is potent enough that it is worth playing it, and Power Word: Shield, as it could give life to an enemy minion. Maybe there are options that would be better with Vargoth.