Combine margarine, sugar and vanilla in a large mixing bowl. Cream until light and fluffy. Add eggs; beat well. Combine flour, baking powder and salt; add alternately with milk, beating until smooth. Stir in mini chips. Pour into a greased and floured Bundt pan or a 10 inch tube pan.

Bake at 350 degrees for 1 hour until done. Cool completely; remove from pan. Glaze.

Glaze:
Bring sugar and 2 tbsp. water to boiling in small saucepan. Remove from heat and add mini chocolate chips; stir until melted. Blend in marshmallow cream; add hot water 1/2 tsp. at a time until desired consistency.