Actually, take a step back folks and look at Manehatten, it's already there. The Industrial revolution has happened in pockets across Equestria. Say in Canterlot their Industrial Revolution isn't so much industrial as much as it is magical. For Cloudsdale, it's a different kind of setting, almost a cross between then two because of the Weather Factory.
And then you have little Ponyville, a farming settlement in a rural area. No, we're not going to see a lot of specialiced technology, or magic. We're going to see more of a fairy tale village sort of deal, on the edge of a dark forest with wilderness and dangerous animals. So yeah, as cool as a steampunk world would be, Equestria is a little more diverse. Quaver Ava