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I'm gonna critique this and note that I do not know what cards you have, so please don't complain if you don't have the cards that I suggest you use. Anyway, on to the critique!

MONSTERS:

-1 Obelisk the Tormentor: Because of his nature to be a 3 Tribute monster and this deck only supporting Blue-Eyes, I highly recommend against using this card.

-2 Paladin of White Dragon: This is a Ritual Card that is no longer needed in any Blue Eyes deck. Trust me. Takes up way too much deck space.

-3 Kaiser Sea Horse: There's a better card out there exclusively for Blue-Eyes.

-1 Light Effigy: Same as Kaiser Sea Horse.

-1 Sonic Bird: This is only to be used with Paladin and trust me. Just not worth the space.

-1 Vanguard of the Dragon: There is another card out there much better than this.

+2 White Stone of Legend: One of the better cards in your deck. A level 1 tuner that grabs a Blue Eyes from the deck when sent to the graveyard. A definite 3-of for this one.

+3 Kaibaman: This is pretty much a Kaiser Sea Horse for Blue-Eyes, but it treats the summoning of Blue-Eyes as a special summon. Therefore, a common strategy is to have both Blue-Eyes and Kaibaman in your hand, then normal summon Kaibaman followed by tributing him to special summon Blue-Eyes.

+2 Decoy Dragon: This little guy will probably be among the best support for this deck that you'll possibly have, especially if you have Blue-Eyes in your graveyard.

+2 Lava Dragon: This card will allow you to put 2 of your low-level supporters into play. Definitely a good idea.

SPELLS:

-2 White Dragon Ritual: Takes up too much deck space for a card that's not even the main focus.

-2 Fulfillment of the Contract: Same as White Dragon Ritual

-1 Luminous Spark: Doesn't really help you as much as you may think.

-1 Malevolent Nuzzler: I'm not too fond of equip spell cards that grant only a set ATK/DEF bonus. They've grown obsolete in the current series of the game.

-1 Super Rejuvenation: I can't see this card seeing too much use. I can think of better cards to use than this.

-1 Soul Exchange: As Blue-Eyes is typically a 2 tribute monster, you'd have to plan the usage of this card out REALLY well. I advise against it.

-1 Dragon's Gunfire: In a Blue-Eyes deck, there is so much better than this.

-1 A Wingbeat of Giant Dragon: In the current game, there's a universal version of this card that doesn't have such a horrendous drawback.

-1 Fissure: We can do better than this to be sure.

-1 Polymerization: This card can often cause more worries in terms of getting a strategy off. Trust me, there are cards you can use that are more effective.

+2 Stamping Destruction: Spell/Trap destruction never hurts, especially one that deals damage.

+1 Flute of Summoning Dragon: It's a very nice card with the Lord of D. when played correctly. I'm advising running 2, not 3.

+1 Future Fusion: This card is similar to Polymerization, but it takes all the fusion material straight from your deck! A great first draw and even allows you to get cards such as Five Headed Dragon out in a flash! A good strategy is to send 3 White Stone of Legend and 2 other non-Blue-Eyes dragon-types to the graveyard for Five Headed Dragon. That way you get a Five-Headed Dragon (during your second standby phase after playing Future Fusion) and 3 Blue-Eyes to the hand, just like that!

+2 Dragon's Mirror: This card is also similar to Polymerization, but it gets its fusion material right from the graveyard! Definitely useful near the end of the game or in a pinch!

+2 Burst Stream of Destruction: Seeing as this deck is a Blue-Eyes themed deck, this card is a must. It destroys ALL of your opponent's monsters, though it makes it so no Blue-Eyes can attack during that turn. But that's okay. It takes care of annoying monsters like Spirit Reaper, Marshmallon, and Arcana Force 0 - The Fool who cannot be destroyed by battle.

+1 Smashing Ground: This card is, in a lot of respects, a lot more powerful than Fissure, because it destroys an opponent's monster with the highest DEF rather than the lowest ATK. This could result in taking down a very powerful monster.

+1 Heavy Storm: This card is better than A Wingbeat of Giant Dragon as it doesn't require you to return a high level dragon to your hand to use it.

+1 Pot of Avarice: This card allows you to return any 5 monsters from your graveyard to your deck in order to draw 2 cards. This is a very useful card but, since I've suggested so many cards that utilize cards in the graveyard, use this with caution!

+1 Brain Control: This card will let you take control of an opponent's monster for a turn. Definitely has a ton of uses!

TRAPS:

-2 Trap Hole: I can't say this is a definite since it's definitely getting to be more popular despite how obsolete it was once upon a time, so if you're adamant about the Trap Holes, ignore this.

-1 Seven Tools of the Bandit: There's a better card than this one out now.

-1 Beckoning Light: You don't need this card. There's a lot better support for Blue-Eyes.

-1 Magic Jammer: Same as Seven Tools of the Bandit.

-1 The Dragon's Bead: Same as Magic Jammer and Seven Tools of the Bandit. A lot of cards don't target anymore.

-1 Waboku: You don't really need this. There are better cards you could be using.

-1 Burst Breath: This has a very detrimental drawback and its unnecessary.

8

+1 Dragon's Rage: In Blue-Eyes, this is actually useful.

+3 Dark Bribe: This card allows you to negate ANY spell or trap card, but your opponent gets to draw a card for the cost. Myself and many others find this to be a much better alternative to Seven Tools of the Bandit and Magic Jammer.

+2 Bottomless Trap Hole: This is ONLY if you decide to take out the Trap Holes. The reasoning is that Trap Hole affects those with 1000 ATK or higher while Bottomless Trap Hole affects those with 1500 ATK or more. With more and more useful cards falling short of 1500 ATK, either card is effective, though this card removes the affected monster from the game while Trap Hole merely destroys it.

+1 Mirror Force: This card is amazing and has been a must-have for any deck since almost the beginning of the Yugioh TCG. Definitely get your hands on one and use it!

+1 Magic Cylinder: Another old classic, this card reflects battle damage from one of the opponent's monsters back at them! Great when your opponent takes control of one of your monsters and you don't want to destroy it!

EXTRA DECK (Formerly the 'Fusion Deck'):

+1 Blue-Eyes Ultimate Dragon: Trust me. If you take my suggestions, you could very well get more than one out.
+2 Five Headed Dragon: At least one is a must-have, 2 is better. But three is too many.

+2 Mist Wurm: Because your White Stone of Legend is a tuner, it allows you to effectively run Synchro monsters! Among the one you'll probably have the easiest time getting out is Mist Wurm. It's a Level 9, so a common synchro summon would consist of White Stone of Legend and a Blue-Eyes. It has 500 ATK less than Blue-Eyes, but its effect allows you to return 3 of your opponents cards to their hand.

There are many other options for Synchro monsters for you to use, but Mist Wurm is the one you'd be able to get out the most often.

If you have any questions / comments / concerns / etc, feel free to post them in a polite manner and I'll likewise address them politely.

I personally like this card because it lets you drop WSOL for a little power boost, plus if you have a Blue-Eyes in the Graveyard and your opponent counters an attack with say Mirror Force, Sakuretsu Armor, or something similar then Vanguard is destroyed and you get to summon Blue-Eyes

That's exactly why I added that card

But chances are that Vanguard will be destroyed by battle if the opponent knows about Vanguard's effect. That's why cards like Decoy Dragon and Lava Dragon are significantly better.

I would but the only Red eyes cards I have are REBC, REBD and REBMD

personnally i agree with this guy Vangaurd is really usefull in dragon decks especially blue eyes and red eyes cause they are norma dragon thats can be special summoned by vangaurds effect so yeah use three of them at most. Also you should use 2 kiabamans in your deck.

That´s exactly the point on boosting vanguard of the dragon ATK, plus there is a very good combo with these card if you have the white stone of legend:

You normal summon Vanguard, discard thw white stone of legend, his effect applies whenever he is sent to the graveyard, so you add a blue eyes and discard him too. You got yourself a 2300 atk monster without tribute wich has a backup if destroyed by ANY effect of you opponent.

Besides, i believe you you are making a cheap dragon deck, just because a good dragon deck is just too expensive. That is good common card, not perfect if returned to the hand.