This raises more questions (sorry, I'm a noob at this).1) Magikarp do not need to be used, their eggs hatch the fastest though.
2) Yes, the wildcard value will be the same, along with the nature, gender and ability
1. What if I breed a Pokemon with a different M/F ratio?
2. How do I ensure the ability I want? (Ex. Magikarp has 1 natural ability but Ralts has 2 OR I breed using non-HA Magikarp to begin with but want a HA Eevee)