For Vintage Magic: the Gathering, the current Banned and Restricted list can be found here.
For Old School MTG, rules, set legality, and B&R lists vary by locale. For the most part, Europeans use Magnus's list. Some non-Swedish groups have included foreign language black-bordered Revised cards (FBB), Italian Legends, and English Revised to allow for greater access to dual lands and other generally expensive cards.
In the United States, there are a few different established groups that utilize their own lists (Eudemonia 93/94, Land Lotus Juzam '95, for example).
Our group in Chicago has worked out its own custom rules (EC 93/94 Old School), legal sets, and B&R list as follows:
Rules:
Use of all current MTG rules EXCEPT:
Mana burn still happens. It is paramount when considering cards like Su-Chi, Drain Power and others. Mana burn was introduced at the beginning of the game and eliminated in 2010.
Chaos Orb errata: 1, Tap: Choose a non-token permanent on the battlefield. If Chaos Orb is on the battlefield, vertically flip Chaos Orb onto the battlefield from a height of at least one foot. If Chaos Orb rotates 360º at least once during the flip, and lands on the chosen permanent, destroy that permanent. Then destroy Chaos Orb.
No Draws in Tournaments
In order to encourage the maximum amount of Magic and matches being played (and dis-incentivize draws and concession for seeding), a strict no draw policy (intentional or otherwise) is enforced.
After 50 minutes if a match is tied, an additional five turns (starting on turn 0 with the current player's turn) is allocated to the match.
If a winner is not decided by the end of the additional five turns, the tie breaker will be a sudden death Chaos Orb flipping contest, similar to a hockey or soccer overtime shootout. If both players make or miss the Chaos Orb flip in the same round, repeat the process. The first person with a successful hit in the same round in which his/her opponent misses will be declared the winner of the match. The point of Old School is to play Old School, so we always encourage everyone to play quickly and have fun each round – this tournament structure has worked very well to that end.
Legal Sets:
Alpha
Beta
Unlimited
Revised
CE/ICE (to allow for better access to expensive A/B/U cards)
Arabian Nights
Antiquities
Legends
The Dark
Fallen Empires
NOTE: In addition to the sets above, we allow non-foil, original card frame, original picture reprints of any legal cards that would fall into one of the sets above to allow for better access to cards. For example, a Russian non-foil Time Spiral Disenchant would be legal, while a foil 9th Edition Clone would not be. While all Revised Serendib Efreets are misprinted with the art from Ifh-Biff Efreet, since Revised is an allowed set, this factory misprint is not illegal.
Banned (ante) Cards:
• Bronze Tablet
• Contract from Below
• Darkpact
• Demonic Attorney
• Jeweled Bird
• Rebirth
• Tempest Efreet
Restricted Cards:
• Ancestral Recall
• Balance
• Black Lotus
• Braingeyser
• Chaos Orb
• Channel
• Demonic Tutor
• Library of Alexandria
• Mana Drain
• Maze of Ith
• Mind Twist
• Mox Emerald
• Mox Jet
• Mox Pearl
• Mox Ruby
• Mox Sapphire
• Recall
• Regrowth
• Sol Ring
• Time Vault
• Time Walk
• Timetwister
• Wheel of Fortune
