Here is a video of the glide toss in action, though the sound desynchs just for a little bit, and I screw up a few times but you should get what i mean in the video.
Glide toss also works while throwing in the air and at the ground as well.
Not sure if anyone has tested this but while testing glide tossing you don't even need to be facing away from the opponent when throwing it at the ground.
This is pretty cool while testing with the freezie.
This could be useful in dealing with peach and diddy at times.
And possible snake if he doesnt cook his nades.
http://www.megaupload.com/?d=JE5GV4XK
As I was saying about the freeize I was facing towards the opponent and launched myself in a sliding fashion just like the glide toss.
Oh and the glide toss, you don't need to face backwards now how ever, just roll forward while facing them and let er rip and you will slide.
In that video however i was facing backwards.
If you do it forwards they will just expect you to toss your armor parts like you normally do.
But however they won't expect you to glide across the screen at them while doing so, while facing backwards would pretty much give it away.
Here is the video where I was testing with the Freezie.
I call it the freezie glide toss, since you are facing forward but it's still a glide toss reguardless.
This works with every item obviously.
http://www.megaupload.com/?d=OBAZFB95
Video Download in the highest quality that I recorded.
http://www.youtube.com/watch?v=cvE8W1SHBYM&fmt=18
There is the yotube Link to the video