As unamazing as the design is, its certainly worthy of someone doing a custom job. I think if someone gave it a good paint job, it could look quite cool.
What would win?
Hmmm... I betcha it would be a very close fight. Although, the Indi'Tank is based off of the Mk.XIII, while the LXG Tank is based on the Mk.IV, so I betcha the Indi'Tank would win.