Contrary to this achievement's TA score, it's a lot easier than the Ultimo achievement on the Iron Man table. For one thing, you get to choose the order that you do the missions in (on Iron Man it's random); that's helpful because if you attempt the hardest missions first, you won't feel bad about hitting 'restart' when you fail, and you won't feel as much pressure because you haven't spent a lot of time on the game. Also, if you fail to beat Dracula on your first attempt, you get to keep trying until the game ends -- whereas if you fail to beat Ultimo, you have to go through all the steps of activating him again.
I suspect this achievement is so rare because Blade is a much more complex and confusing table than Iron Man, which is more difficult but also more straightforward. In the interest of not repeating information, you should read the guide that ahell linked to: http://22.214.171.124/forum/showthread.php?t=2892
The letters, in ascending order of difficulty (my opinion), are:
Dxxxxxx - spell "Visions" by hitting the bumpers several times (almost unavoidable)
xxAxxxx - District Sweep (the video mode where you pick the vampire out of a lineup, very easy)
xxxCxxx - Personal Differences
xxxxUxx - Nocturnal Visitors (can be difficult if you're unlucky enough to get the left loop 3 times in a row - note that you fail this mode if you get two "misses", but each time you hit the correct lane, the miss-count gets reset)
xxxxxLx - Mirror Images
xRxxxxx - complete a lair by hitting the lair hole, then hitting a lane, then lair hole again, then whichever lane it tells you to, and then a bunch of lanes. Once the mode starts, it requires really good timing
xxxxxxA - Cathari Katana (requires seven specific lane/loop hits, very difficult)
Every time I started a game, I had a specific set of goals for the first 3 balls. (Remember, for each standard ball you can get 2 extra balls.) If you don't meet the quota by the time the ball is lost, restart the game; since you're going for the hardest letters first, you'll generally lose early, and if you don't lose early, you have a good shot at spelling DRACULA.
Ball #1-1: Get at least one extra ball, AND at least one of xRxxxxA; OR get ALL of xRxxULA.
Ball #1-2: Have obtained the remaining extra ball AND at least 2 of xRxxxLA; OR have obtained ALL of xRxxULA.
Ball #1-3: Obtain at least one more of xRxxULA (if any are available)
Ball #2-1: Get at least one extra ball, AND have completed ALL of xRxxULA; OR have completed ALL of xRxCULA.
(NOTE: Feel free to adjust that formula as you see fit. I might have been too strict; I wound up beating Dracula during ball #1-3. My reasoning was that I wanted multiple balls remaining by the time DRACULA was spelled, because I'd already started the mode and failed a few times.)
Once you've completed DRACULA, Deacon Frost goes into his hole and says 'Auf Wiedersehen'. (If your last letter was xxxCULA, you'll have to get some more energy in daytime; otherwise, night mode continues.) Put the ball in the mission hole to start the 3-phase wizard mode.
PHASE ONE: Get 15 shots (any ramp, loop, or hole, including the now-open Deacon Frost holes and excluding the Hidden Hole). You might play this mode once, start it with 99 energy, get 3 shots, and lose, and think, 'well, this is impossible.' Here's the thing: when you're in a mode at night (even the xRxCULA missions), making shots replenishes energy. Make a few shots quickly, and you'll replenish a lot of energy. So the trick here isn't getting 15 shots in under a time limit; it's chaining shots together so that you don't go more than a few seconds without one. A lot of shots will feed flippers that can then get other shots (for example, the alley ramp feeds the ball to the upper-right flipper, which has an easy shot at the Deacon Frost holes.) This is the hardest phase, which is a good thing; if you fail, you get to keep trying until game over (just keep building up energy during the day and hitting the mission hole at night until you get it right); and if you beat it, the next two phases aren't bad at all.
PHASE 2: This is much easier. You have to send the ball up the Citadel Ramp four times and hit the four talisman targets (in whatever order you like; there's no penalty for hitting one you've already hit, but it won't do you any good either). The portcullis goes up and down rhythmically to block your shot, but the timing is pretty easy as long as you can catch the ball in the right flipper. If you hit a bumper, Dracula will catch your ball with his magnet like when you spelled VISIONS; this isn't bad, though, because he drops it onto the left slingshot which fires it right back to your right flipper, so you don't have to shake the table to get the ball back where you need it.
PHASE 3: The second you hit the fourth talisman target, multiball begins (two balls drain towards the left flipper and a third gets auto-launched from the plunger area). The main difficulty here is that your heart is pounding in your chest, and it's vital that you relax. The goal is get a certain number of points -- how many, I'm not sure, but it's not hard because each shot (ramps and holes, just like Phase One) is worth about 6M. (You did get the score-doubling talisman at some point, right?) Focus first and foremost on keeping multiball alive; hit ramps and whatnot when you get clean shots, but don't take risks.
When you've amassed enough points, the sun comes up, Dracula flips out, and Blade references Castlevania 2, awesomely. Multiball continues, which each shot still worth 6M, so you can get a crazy high score, but you've already won, so relax. The achievement will pop when you're down to one ball and the wizard mode is officially over, and your Blade high score is about 10x higher than anyone on your friends list. Good luck!