Well edgeguarding is just a part of the game, it's just the way it is.
To people who let their opponents get back to the stage, I applaud you, it means you've got some sense of honor in you, and I find it cool of you guys to think that way.
What my friends and I DO have -as some sort of ''rule''- is that we don't Edge Hog, I too believe (and I'm the most competitive of my friends) that edgehogging is pretty lame, and yes I know it's a part of the game, but to characters who can't recover well and can't counter an edgehog (Captain Falcon) it's just pretty much broken to use it against them.
What I do use with characters is ledge-hop, d-air, one of my friends still thinks it's cheap, but I call that skill (they're so jealous
..), AND they can counter it by just doing up-B again, since it's a Meteor. Or I just go hanging on the edge, forcing them on the stage, then quickly ledgehop and Knee or Smash them again. (and they fall for it all the time, which is stupid since they know I don't edgehog
...)
Anyways, you can play the game the way you like, but like many have said, don't expect other people to respect your rules, whenever you're going to a tournament or something, just use all the possibilities to win the match (but don't edgehog my C.Falcon, or else I'll pull out your plug and start kneeing you...).