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Summoning sickness only affects abilities that require you to tap or untap as part of the activation cost

As per Comprehensive Rules 2.1.1.4, a deck cannot contain any banned cards in officially sanctioned tournaments and events

The Fair decks simply aren't equipped to deal with the kinds of threats that Ramp deploys

I believe this is true regardless of how difficult they are to trigger, but emerging from Mortal Combat victorious seems like a breeze in a format like Commander where you can mill yourself to your heart's content with commanders like Grist, the Hunger Tide, Iname, Death Aspect (the mill comes from dumping your creatures into your 'yard on ETB), and Zask, Skittering Swarmlord

But he's never an LP cost because he takes damage

Gear up, gather your strength and lead your expeditions through a hostile environment of ice and snow