Cool piece of work.
I think it could've used a couple more jokes, for the most part it was a little too serious for me (I just can't take Punch-Out too serious, I love it for its humor), but it was quite a piece of work. If the follow-ups are as good, I hope this ends up in a collection.
You're probably going to hear this from now to infinity, but Little Mac's coach is actually called Doc Louis. I don't know if you purposely called him Carl ("Doc" could just be a nickname, after all), but just FYI.