I'm doing some math and there are many pros and cons. The most prominent problem is that he isn't too optimized for fire main. To fully maximize madara you need 1 uchiha ( i.e. i'm using shisui, as he has an elemental auto and an auto barrier), iruka and fire main. There are 4 fire ninjas in this team, so this means there is a 25% chance that your fire main won't buff himself. Also as you get chakra back, you can honestly use oboro clone, who will pretty much double your total damage output mystery and attack wise, with a 33% damage lost on chase and tonton. But this means also that your rounds will last longer.

So fire isn't that interesting.

Earth could actually do really good with madara + hashirama + double auto, since you would be able to cast and activate hashirama's barrier turn 1.

Wind main could use the iruka + shisui + madara combo, with giant rasengan and the 3 clones passive. Since the clones are tanky, you won't lose at least 2 of them, thus be able to cast the rasengan each turn.

Since LM lose the CD reduction on chakra on his 4th mystery, he won't change too much with or without madara.

Water main will probably be the most interesting. Losing asuma means you'll be able to cast shark jutsu every turn, with the only problem that hashi wouldn't be able to do anything but cast his barrier at turn 1 and 4.