That's not quite serialized Headliner status, but it's not that far off, and it's safe to say this card will be the White Whale of many Magic players
Players have expended gallons of digital ink discussing this culinary crustacean already, and some are even putting their own Ragost brews together
Legality depends on the tournament format -- Fiendish Panda can be legal in some formats and banned or restricted in others
At the beginning of the game, players each choose a Pokmon card to put into their active slot
One non-dragon commander that may like the Hellkite is Child of Alara, a WUBRG deck that may wipe the entire board to start things over, then reanimate threats like Two-Headed Hellkite to resume the offensive thanks to haste
Even so, this is a slam dunk for your tribal decks with its cheap equip cost and significant stat boost