Falco is very "cheap", except he takes more skill then before since he doesn't have an array of 1049234 easy combos.
-His Upsmash and Uair ARE THE SAME STRENGTH as Fox's, aka, solid killing moves. UPSMASH OUT OF SHEILD IS ****, kills at 120-130%...which is low for Brawl. Oh, and his forward smash is pretty sweet given it's nice range and knockback. Back air is still and solid kill move, just like in Melee. Falling Nairs into the ground (not getting off all of the hits) lead into basically anything.
-His double lasers force people to approach. If there too close, shine is a nice substitute. It's not as easy to punish as people may think. You can also just forward B past them, making more space between you too, and spam lasers again. More on the forward b below.
-He can chaingrab a good portion of the cast to 40-70 or to a spike of stage. Speaking of his grab game, if he can't chaingrab, he can still combo out of a downthrow.....or, do this (something I started on my own): Grab, mash A (keep kneeing them), wait for them to escape. When they escape, just shine them. After you shine them, they'll usually trip, so I run up to them and shield. If they do a get up attack, I regrab and do it again. If they roll left our right, I chase them into a canceled Dash A to Upsmash.
-Falco has GGGGOOOODDDD recovery. As Mew2king said, he's soo hard to edgeguard, especially horizontally. His forward b is faster then Fox's, and faster then what it was in Melee. Eventhough people may know when you're going to do it, it still SSSOOO hard to hit him out of it because of it's speed. That being said, it's usable on the stage. You can use it if the opponent is too close to recreate spacing since it's so hard to punish and read.
There's probably more, but that's enough I think. He's "cheap" aka a good character >_> but you have to make sure to abuse every strength he has to make him that effective. Definitely the best space animal in the game regardless (eventhough many already know this).