Have you tried working on what you can do from grabbing the ledge of the level? With Falcon there are all kinds of things you can do from a double jump from the ledge. Options like wavedashing and performing aerials from the ledge will increase your recovery options tenfold, AND will severely improve your edgeguard game when you can learn how to gimp someone who's trying to land back on the level with a nice, well placed Bair to the face. This is especially true for when you are edgehogging a spacie who's under the stage and trying to overshoot the ledge and get back on the level with their up B. If you have this down, they can't do anything BUT get hit in the face with your Bair and almost always lose their stock.
If you haven't already, I highly recommend you practice double jumping from the ledge and test out your options from there.
Great guide btw. I'm anxiously waiting for the next update.
I like the part written out by Hax. Half of what he said kinda went in one ear and out the other at first, but after a couple days of practicing with some friends, I went back and read it again and it made so much sense after that. You should definitely update this soon!