NO NO NO NO NO! When I saw that title, I had some very disturbing flashbacks!
We did this last summer (as part of a long loop from wastwater yha, which also featured wasdale head > sty head > seathwaite > honistor pass, then after high crag, blacksail pass and back. The carry up Red Pike is a killer (probably worsened for us given the amount we'd already done that day before it though), plus we lost the route a bit along the top (due to visibility), so that involved more carrying. There was some enjoyable riding in places but I wouldn't touch it with a 100ft pole!
If only we'd seen that mtbbritain article before hand!