They would win if you could increase the effective range of Iphs. However, you can't do that short of phalanx mode on the TW engine....
EDIT
However, if you could use something that prevents enemies from attacking like knockback, that might work:
If you had a high attack unit with low lethality and fast attack, and you stick the unit in guard mode to keep formation then that might work. Really, that's actually pretty much what the phalanx is, fast attacking, low lethality pushing thing that uses knockback and mass.
It would probably be overpowered though.
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