Spike may be adorable now, but some day he will be a powerful creature. I can imagine him killing off every villain in the land if he was pushed hard enough.

If anything were to happen to his six mares (attack, torture, murder, etc.) then the beast will destroy everything. An armored giant, killing any vile creature of ill intentions.

Like Batman except he actually kills his enemies, viciously and painfully.
Changelings dropping out of the sky in flames and ashes.
A tyrant beaten into a bloody mess, with his horn shoved in a very unpleasant spot (at least for him).
A spirit of disharmony burned, beaten and mauled, over and over again and not be able to die from it.
An envious alter ego being toyed with, no wing or horn to defend herself.

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He would be like a villain that only preys on other villains, something like this.

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What you just described is basically The Punisher.

It'd be like asura's wrath

Wait Spike With the powers of Asura...or better....Hehehe I have a story to write