How is it that the pros perform those perfectly fair and nair as the come up the side of the edge after hanging off without any lag?
Well if you understand HOW to do it, it ultimately comes down to just practicing. I would suggest taking one of two approaches:
1) Let go of the edge using the c-stick down or away. Jump towards the stage with the control stick. Forward-air with the c-stick.
2) Let go of the edge using control stick down or away. Jump towards the stage with x/y button and a forward-tilted control stick. Holding towards the level, hit A to forward-air.
I myself use method 2, but either of them should work; just practice what feels more natural to you.
Also how do they record the games without video cameras? Is there a component that you hook up to the wii/cube?
Without using a camcorder, you can either video-tape the game using a VCR and then play that back into your computer later, or capture it live; either of these require what's called a Video Capture Card, and in desktops is an actual piece of hardware you install, or you can also get something like what I have, a Dazzle, which takes the red / white / yellow RCA composite wires as input, and plugs into a USB port of your computer. From there, just open up a program like Windows Movie Maker, and capture, either the live game, or a recording. If you're recording live, you need to split the signal, sending one set of wires to the TV, and the other one to the capture device.
Also I can't get the timing for the DMJ down. She doesn't shoot the first missile fast enough, so the closest I get is she's pointing her gun for the second missile when she hits the ground.
Again, practice makes perfect. The method I prefer to do this is the following:
• Position your right thumb with the tip on the Y button and the joint above the B button
• Full-jump by pressing the Y button
• Smash the direction you want to fire with your left hand on the control stick, while pushing the joint of your thumb in on the B button to fire a smash missile
• Repeat on your way back down; practice the timing.
The trick is to focus on firing the first Smash missile as early as possible; it gives you more time to get the other one out. Once you get good enough, you can even fast-fall before firing the 2nd smash missile, but this is fairly difficult so don't be frustrated if you can't do it.