When I originally found out that IC could 0-> death with a single grab, I immediately thought broken.
But I've been thinking about it more, and it's not necessarily 'broken.' Unbalanced, undoubtedly.
If it gets to the point where anyone who can play IC well will win because grabs are "so easy in brawl" then I agree it should be banned. If no other characters can beat the IC, then yes, action needs to be taken. At the current state, I'd much rather fight an IC in a tourney then a good snake or MK.
Don't ban something because "it might get out of hand." Innocent until proven guilty. Wait until two or three tournaments (or more) clearly suffer from this. Until then, just keep playing the game and worry less about things that you are worried may be another reason you can't win.
EDIT: Ughh I went back to read the whole thread and saw that players like Germ and Hylian gave the same (and more articulated) arguments.
One thing I wanted to argue about with Gimpy's post... Gimpy was arguing that wobbling was more a risk reward thing in Melee. Perhaps it was. Perhaps this technique is very high reward, low risk. That's still not enough evidence to ban it. All sorts of moves in brawl have almost no risk and have high reward.
By the way, everyone arguing that it shouldn't be banned, you clearly arn't supposed to post in this topic! He said "post here if you think it should be." Yeesh.