Does player prioraty still exist?

[Celestis]

I know in Melee, the player closest to P1 had priority in frame perfect grabs and deaths and such. So I was just wondering if that still stood true in PM or not.

 

[McSlur]

http://smashboards.com/threads/ganondorf-aerial-flame-choke-port-priority.350093/
Here's an example of one way it's still in the game.
I'm not sure about the whole perfect grabs thing, but I remember there was a thread about PP on here at one point.