Who is the real main character?

I really cannot say, it switches between the two.  Hawkeem has a more complete story, as this game is the last part of his, and focuses on a cosmic philosophy taking a look at fanworks in a meta sense, while Twilight’s part is only one chapter in between many, and focuses on her character in the long term and a good look at story telling as a whole.

150 playable characters? The Suikoden series has a lot of playable characters, you can recruit a total of 108 characters in the first one, at least, but not all are playable. Maybe like 50 or 60 of them are, so this game is going to similar to that series, in terms of how many playable characters there are?

I guess.  Most of them are just me recycling assets of the game, nothing spectacular, half assed really.

Is that sentient toaster by chance orange and makes snide remarks? Because it reminds me of a certain one... *coughcoughscootatoastercoughcough*

I don’t know, go ask Dr. Flask.

Did I mention that I ate Czar? He was very tasty. I'm not sure if it was as tasty as 10 of your other OCs, like Imago and La Tormenta, but he did taste good. I guess you have one less... er... 11 less characters to have in the game. Please send my compliments to the chef, Gustav le Grand!

Czar is a scrawny little guy full of steam and he’s really sour.  You should reconsider your diet, it can’t be healthy.

Attention Spans…

I should note when playing as the game’s 4 different party leaders, they all naturally notice different things.  With this, if a certain leader isn’t in the group (not necessarily party, just selectable), you won’t be able to find certain hidden items with Detective Vision.

Twilight: Notices practical items item potions and money
Hawkeem: Notices battle items like bombs and darts
Rarity: Notices gems
CMC: They’re hyper active kids, they don’t notice anything!

None of these items are required for anything, but it helps if you can find a Max Potion or a Super Czar Bomb.

Can certain actions/choices done in one arc/story effect another?

Yes actually.  Remember when I mentioned Twilight can hack systems and Hawkeem can pick locks?  A few stories will cross into the same areas, and if you played say Twilight’s story first and unlocked a certain door, Hawkeem will be able to get some treasures Twilight would naturally miss, and vice versa.

Oh and if some characters are killed off early, they won’t appear in other stories like they normally would.

I can confirm you can get a really good piece of equipment for the CMC early if you have Twilight unlock a certain door and prolong the life of a character in Hawkeem’s story.

Behold fair mortal! For I have created the next innovation in modern kitchen technology! A toaster with a completely modern AI programmed in to get your toast to perfect levels! In fact, this one even became self-aware! Ignore the constant screaming, it just realized it's a sentient toaster.

What have you done you fiend!!

What do you mean by the CMC's chapters are "giant setpieces.?"

They are just really long cutscenes filled with battles with some exploration thrown in.  The CMC story is the shortest one, having only two parts through the entire game, one in Episode 2 and one in Episode 3.

Is there any difference between Twilight, Hawkeem and Rarity's stories or is it just changing the main character?

Twilight and Rarity’s chapters are very action packed and the most like an RPG, Hawkeem’s are slower, focusing more on world building, and the CMC’s chapters are giant set pieces.

Also in a very meta sense, Twilight’s story is a deconstruction fic, while Hawkeem’s story is a self aware bad fanfic.

Will any submitted OCs that are important in the story but aren't fought in the story be fought in LBM?

Nope, I’m only adding in canon bosses and 6 ultimate bosses.  Besides them, all of them are from the Mane Story, the Astral Arena or My Little Eggface.