Personally, this feels a lot like the Halo to the Halo 2 and 3 transitions. Hardcore Halo fans love Halo, but typically hat Halo 2 and 3 because of the changes made in gameplay. I think the biggest problem here, is that you guys wanted a the same old Melee, with new characters.
Now, I persoanlly, didn't enjoy Melee after SSB64. I barely played the game. But I can understand where you guys are comming from, in that what was once a highly competetive game, has been changed to seem not so competetive.
I only argue this: The competetition in Brawl is still developing, and once the players get better, so will the competetive gameplay. If you have a desire to win the game, theres no reason it can't be competitive. Since tripping can happen to anyone, anytime, it doesn't really mean that it eliminates the competetive spirit of the game, since items can turn the tide of a match far more than tripping can. Not only that, but tripping has actually been known to save people, as well as kill them.
Wavedashing was a glitch, meaning it wasn't meant to be a part of the game, so eliminating a glitch is not a shot to lower is competitive nature. I'm a major StarCraft fan, and when the fixed a glitch that allowed to to stack certain units for the Zerg race, and form a signle image of one zergling, but retain all the other units within itself, I simply went on to learn other tricks.
All the basic aspects of the game remain. I think we all just need to adjust to the new game, and wait a little longer before we decide anything about the game like that. All in all, Happy Smashing.