Given that my first impression of Friendship is Magic was that it was the cartoon my little sister watched and was about pastel ponies eating cotton candy - and still sat down and watched it by recommendation on a friend - I don't think I would have a problem watching this. I doubt I would enjoy the fanart as much - I do like the simplicity in the FiM art - but I wouldn't have a problem if the story was still as good.
I definitely like these two. Very nice, and I especially like the first one.