RE: The Challenge
I'd probably tone down the speed and attack so it doesn't hit like a high-speed truck. True, you're weak defensively from the physical side, but you can pretty much tank a special hit like it's nothing. 150 Attack can wreck anything after a swords dance, and 120 Speed lets you hit 372 (339 if you choose a + Attack nature) with a positive nature, which outspeeds most things not scarfed, faster (I'm pretty sure only a few Pokemon can outspeed it without a scarf. Maybe like seven if you factor in Pokemon who's abilities boost speed, like Excadrill), or priority users.
@Hyperbeem: Komet also has priority. An Adamant natured Komet's Mach Punch does 30.2% - 36% to a 252 HP / 40 Atk / 216 SpD Adamant Scizor (Scizor wins that one), and 59.9% - 70.9% after a Swords Dance (Scizor lost that one if he switched in or previously got damage). If Scizor is revenge killing him, a Moxie boosted Mach Punch does 45.3% - 53.5%, which is a 2HKO with SR. I think Scizor can beat him as long as he doesn't switch in on an attack. I think Conkeldurr can take the hits better than Scizor can, but I doubt he can switch in on a +2 Attack from Komet and live to Mach Punch.
I agree with you on it not being Uber, although I'm too tired to look into things that can easily counter it. 248 HP / 216 Def Bold Jellicent takes 48.1% - 57.1%% from a +1 Moxie boosted Pursuit, even if it's not switching out (if it did switch out, it'd take 95.8% - 113.2%). Impish 252 / 240 Skarmory takes 33.2% - 39.5% from a non-boosted Drain Punch, but takes 66.5% - 78.4% from a +2 Drain Punch. I'll do more calcs later, but I'm really tired from my trip. (I think I might have messed up a few of the calcs somewhere ;P )
Serious stuff right thar.