The second ability costs X, and it lets you Destroy each nonland permanent with converted mana cost X whose controller was dealt combat damage by Steel Hellkite in that turn

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A devoid spell can always target a creature with protection from a specific color
After a black-bordered printing, those cards became eligible for reprinting in unlimited quantities with a white border, as with the simply named Unlimited Edition that followed Alpha and Beta
You can't wait until later in the turn
And obviously by that I mean the size of MTG cards