My favorite character is Pit. Sadly, I don't have any history with the character like I do with Mario or Samus or Link. However, the whole angel thing appeals to me right from the start. Having an awesome double-edged blade that can be used as a bow is just wicked cool, and the use of a shield adds to that cool factor. My girlfriend can do character texturing, so she made me my own Pit skin, where everything down the Hyrulian lettering on my blade adds to seeing a truly bad-ass character. I've always tried to be the aerial fighter in any game I've played when going multiplayer, and Pit fits just that. The feeling of shooting an arrow into a grab, down-throw into nair, nair, nair, mid-air arrow, and fairing someone into the wall feels so great.
He is very balanced in all statistics, with numbers being toward the high-middle (good-average), with only his grab range at a low. This balance allows for all sorts of different play styles, and gives me the opportunity to find all sorts of new combos to utilize against the rest of the roster. Finding something no one has seen before, and chaining it together into an inescapable combo leaves the jaws dropping. Pit's recovery is terrific. The other day I was playing an old melee buddy, we spent months (I calculated at one time) of in-game play time together. He knocked me very close to death, being just under the FD platform, and nearly deathing to the wall. He dashed, he taunted, he thought it was golden, but a jump, side-b fly, jump and an up-B secured my safety. He just says "...bs", good feeling there. His ledge guarding is absolutely amazing, and when Pit is being played by a sniper with those arrows, he can often kill someone over the ledge just by using arrows.
In 2v2 he is a great partner. Firstly, his arrows can pelt the enemy and disrupt a combo, and when in the hands of a great Pit player, he can save his teammate which would have otherwise been a wall or floor death by hitting his teammate with arrows allowing them to continuously up-b to safety. When partnered with a ground-brawler, he can take to the skies to secure that kill, or jump off the edge to end someone trying to recover and have no problems getting back up. All his moves are very controlled, and relatively average in size (hit-box), meaning I can leap right into the fray of it and with safely controlled moves hammer the enemy and not my teammate.
I feel Pit is even more fun to watch than play, when in the hands of a great player. A spectacle of back and forth, arrows and melee strikes, and a ground to air game makes him so entertaining to watch. Needless to say, the feeling of doing these things is just as fun.
P.S: In case nobody is aware (and nobody seems to be) Pit's up-tilt needs to be toned down. Up-tilting a big, heavy character to at least 100% with no chance of escape isnt fair, even a regular weighted character can stack to 40-60% with just up-tilting. I'm a Pit player and I say it needs a nerf!