How well would a fic be if it stars Rainbow Dash playing an F-Zero AX cabinet, and various other ponies (Twilight Sparkle, Button Mash, Princess Luna, Soarin') played against her in linked races?

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Please explain to me what an F-Zero AX cabinet is, and what kind of story is it? My guess is it's a Tournament fic, but I'm not completely sure.

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Basically, it's the arcade counterpart to F-Zero GX made under the Triforce arcade brand. It has a very limited distribution across the world.

And to explain what the game is about, imagine 30 pilots racing on futuristic tracks at the speed of sound.

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Going to be very interesting. High speed competition always ends up with drama (even if the competition is virtual).