It's like the Green Demon challenge but in my experience with it, at least in the base campaign, it's bordering on frustrating. Pizza Face has a nasty habit of rubber banding. Even playing with a super speedy character like Modern or X Sonic, I found myself getting caught by him while midair or trying to make a jump. Of course, I do like this kind of stuff on paper. It rewards you for knowing the stage inside and out and routing out the invincibility capsules and such. But with SRB2's overall slower pace that demands PATIENCE with it's platforming, it's a challenge that isn't suited to SRB2 AT ALL. I can see this working in a faster paced campaign like Sol Sestancia or a stage like Speed Highway, but a majority of stages are either going to be a struggle or unplayable.
Either add an option or toggle some of his more frustrating tendencies or nerf his speed, it gets to be way too much even halfway through the adventure.