It should lose to pool first, but it usually doesn't because people don't know how to react properly. Most people assume it's a gasless 10 pool which is just made to kill the natural while you get your own natural down, so people think you're throwing when you go into their main. They get wide eyes and try to save their natural once it finishes by bringing their queen + slow lings + whatever down there, and your speed finishes and they lose.
The only way I've found people hold if I don't **** up my micro is just by sacrificing the natural, making a spine in the main and just getting their own speedlings + banelings with a 5+ drone advantage. When you come across someone who does this it's hilariously how hard the build fails. It shouldn't work against anyone, but it just does.
I have lost to people who keep their natural, but it usually involves a spine crawler and really good queen micro, combined with me messing up my ling micro.
Here's a guy from today who went pool first, with a spine crawler, and went for a baneling nest and still failed for whatever reason... Maybe he made drones during the attack, maybe he didnt micro his queen, I don't know, lol...
http://www.twitch.tv/killerwalski/b/528219946?t=21m
I alter the build on 4 player maps to get one set of lings, then queen, then the rest of the lings instead of starting with 3 sets of lings, then queen. The reason is because you need the first 2 lings to scout the two positions your overlord doesn't scout, and getting that faster inject makes up for the harass you miss out on from not knowing where he spawns.