I used to play it a lot in blitz, where it can be a loads of fun. I don't recommend it for "serious" games.
The Schliemann

Use it in live games because it can be a real shocker and people don't have to time to caculate how i am going to open your king because of your f pawn move.In slow chess it can be dangerous if not played properly.

Use it in live games because it can be a real shocker and people don't have to time to caculate how i am going to open your king because of your f pawn move.In slow chess it can be dangerous if not played properly.
That excuse was used for the worse openings (1.b4, 1.g4 recently, and others in the past). The Schliemann does not even need it... So why ?!
The "surprise" is not and will never be a good argument. "Sharp lines", ok. But "psychology", no.

I've had people freeze for 30 seconds after 1.e4 e5 2.Ne2 Nf6 3.d4. You can ignore the human element of chess if you want to but it will be your loss.
Also here is a nice lecture of the Ivanchuk - Kramnik game that had some content about this sort of thing:
http://www.youtube.com/watch?v=g1gWIfVajlM
It's a little over 50 minutes though.

It's sound and perfectly playable - BUT at your level you shouldn't even be worrying about such complex lines. Develop your pieces, play slower games, go over them for your mistakes, and learn basic endings. Simple principles will guide you in the opening for now.
I certainly have reached the level in which I should learn my openings. In my previous tournament, I was totally destroyed by my opponents in the opening as black. So I want to find a line which is sharp, sound and recommended.

It's sound and perfectly playable - BUT at your level you shouldn't even be worrying about such complex lines. Develop your pieces, play slower games, go over them for your mistakes, and learn basic endings. Simple principles will guide you in the opening for now.
I certainly have reached the level in which I should learn my openings. In my previous tournament, I was totally destroyed by my opponents in the opening as black. So I want to find a line which is sharp, sound and recommended.
It's easy to say "i lost because of the opening" (it's so much nicer to think that you lost because of not knowing theory rather than because you played badly), but at our lever this is rarely the case. As long as you develop sensibly according to the basic opening rules, you may not press for an advantage with white and be a bit worse with black, but there is really no chance to be "totally destroyed". My suggestion is to analyze the games carefully (you can post it here if you want) and you will find that either you were actually ok out of the opening or you were losing because you didn't follow said opening principles and made tactical mistakes (and not because of not knowing theory).
Anyway, there's nothing really wrong in learning some basic theory (studying deep lines would be a total waste of time) at your stage; however i don't think the schliemann is a good choice for you. It's a perfectly sound, but very demanding defence; in the 4.Nc3 mainline black has to choose between the older ...d5 plan, which gives white a scary initiative due to black lack of development (only a very experienced player can navigate the complications without getting horribly mated), or the modern Nf6 plan, which actually leads to a complex pawn down endgame black can draw with precise play, but hardly win (i doubt this is what you want from your opening).
3...Bc5 or 3...Nf6 4.O-O Bc5 are two variations based on natural and sound development which sould be easier to handle, more effective and more instructive (learning Nxe5 tactics and the classical fight against white centre should greatly enhance your open games understanding) at your level.

It's sound and perfectly playable - BUT at your level you shouldn't even be worrying about such complex lines. Develop your pieces, play slower games, go over them for your mistakes, and learn basic endings. Simple principles will guide you in the opening for now.
I certainly have reached the level in which I should learn my openings. In my previous tournament, I was totally destroyed by my opponents in the opening as black. So I want to find a line which is sharp, sound and recommended.
Usually being "totally destroyed" in the opening means you overlooked some simple threat(s), and if you are going to do that, opening preparation isn't the answer. And you do understand that being sharp AND sound is almost contradictory, right?
Oh, posh, look at me, the old scold! Sounds like you have it all figured out, pay me no attention at all.
Carry on!
I actually never took openings seriously, before my last tournament. I lost all my games as black, and in the opening usually my pawn structure would be bad or I would become a bit slow in development.
Also, I do know opening principles well enough. I played the whole main-line of an opening without knowing it.

2600 reccommended it to me. Its tricky if the opponent doesn't know what to do. Its actually a fine line I started playing it while ago.

This follow the opening principles stuff is crap.Maybe low USCF rated players don't know much theory.But here in India,even the 1200's throw out 25 moves of ruy lopez theory and 30 moves of poison pawn winawer theory.You can't hope to survive using basic opening principles.Because the side with good theory will get the easier game with no problems while you are forced to navigate unknown territory.I don't advice on learning a 1000 openings but i do reccomend learning the theory of the opening you want to play.Books are a good way of doin that but personally i find them very boring.Check out some dvd's of the opening u want to learn,watch it and thats all u need.
Does anyone recommend using this opening?