Ice Climbers: Their **** grab range doesn't matter much. A good IC player doesn't try to force the grab, they get it when their opponent screws up. Between desynch blizzards, ice blocks, and their little spin attack, they have all the pressure game they need to back their opponent into a corner and get them to mess up. I may be biased on this one because of how much I play against Melee1's Ice Climbers, but at a high level the IC's are scary.
Wolf: He's one of the most unpunishable characters in Brawl. With his good aerial DI, he can poke and prod at a defensive opponent until they break through. His Bair is my vote for best aerial move in the game. His reflector is the best of the three, what with the startup invincibility frames. The blaster, while not as good as Falco's is still a great way to keep up the pressure and stop defensive players. Even on the ground, he's got great range with his tilts and quick Fsmash. His Dsmash is a ridiculously fast kill move if the Wolf player is careful to save it.
His recovery is nowhere near as big an issue as it was once thought. Good Wolf's know how to angle it properly and get back on, and they hardly ever get put into a situation where it's needed anyway. Really, I think his recovery and lack of great aerials other than Bair are his only weaknesses. He's a beast otherwise.
Falco, I feel, is not as strong as we once thought. Earlier in Brawl's life, we quickly discovered his powerful lasers and chain grabs and spikes. These are incredibly powerful tools that absolutely brickwalled a great number of characters and players. As time has gone on, players have learned the tricks to not get grabbed. They have found out how to tech the spike. They have found out how to maneuver around lasers. They're still dangerous tools, to be sure, but not the all powerful abilities they once were.
What we are left with, then, is a character with great speed and powerful aerials, but a merely okay ground game. His jab and Ftilt are great, but he lacks range and kill moves while grounded. He has an above average moveset, but when compared to the absolutely **** movesets the other high/top tiers have I feel it is lacking.
I want to stress that I don't think Falco is a bad character at all, I think he's high tier material, just not top tier. Also keep in mind just how hardcore he destroys the low tiers. I honestly can't see a competent Falco losing to a Link or a Pokemon Trainer or a Bowser. He's good, but not the best, see what I'm saying?
I considered putting Fox above Falco as well, but I wasn't sure about it. I debate that one with myself a lot, and since I was already making a scandalous post, I decided to go ahead and leave him off.