The LA-7 is my favorite ride, and a rate myself better than average in one. I never, never have 2nd thoughts about mixing it with a pony, and usually it's a pretty short fight. Even 2 on 1, the LA can prevail, or at least survive. That doesn't mean I win all, or most of the time, just I wouldn't avoid that fight.
LA gets a bad rap for short range, but if you get it up to cruise and then reduce rpm's you can cruise faster than most fighters going full throttle, and greatly reduce your fuel consumption.
There are a couple of things you never want to do in an LA.
1. Turn fight with over 1/2 gas.. a heavy LA is a pig.
2. Get suckered into going too fast (unless your are running for your life). Over 500 and the stick is sitting in a bucket of cement. Get too fast on a pony's 6 and he can be on yours before you have maneuvering speed back.
Besides the advantages the pony has on the LA at altitude, it also, in my experience will out accellerate an LA diving away at any altitude.. sure the LA can catch up eventually, but it gives you time to consider plan B.