For spam, it's kind of weird in a sense that Falco can't hold reflect/absorb like Fox or Ness or have a long, lingering reflect like the Pits, Zelda, and Palutena, but he's considered an anti-zoner or counter-projectile character for some reason. Personally, I think the others, especially Fox would be a better counter-projectile character since he can reflect and rush in while Falco will have to slowly make his way towards while reflecting. For me, I sometimes tank the projectiles which you shouldn't do as Falco, but whatever. You could just power shield, reflect things you know will hit back, so don't reflect Lloid Rockets from the other side of the stage, dodge, jump, and tank projectiles.
The reason why I tank projectiles is that I don't like spamming Reflector since it's basically showing that you can and will reflect and it creates this panic reflect habit. I'd rather save it for the occasional punish or as a trump card if I know someone's fishing for that Charge Shot, Aura Sphere, or Shadow Ball kill. Since default Reflector is fast, Falco can kill almost pointblank with reflected power projectiles; either Falco's up close and uses it or he's away, but Reflector reaches them when they shoot. It's the ultimate backfire.
Panicking is one thing Olimar/Alph and Duck Hunt thrive on as they can load up on a ton of damage through massive damage per second (DPS) or continuous pressure. Villager on the other hand would love to bait out Reflector which is why I don't like getting in the habit of using Falco's Reflector like that and rather use it more for spacing and as a trump card.
In the end, you have to play patiently with Falco and even if the match is fast-paced, you can't lose your cool with Falco. You have to be on point and creative with Falco in this game.
We don't have a Toon Link discussion yet, but we do have a
Link's which you could reference, along with
Samus's and
Villager's.
I don't mess with customs enough - blame the 3DS -, but the official custom sets thread is here:
http://smashboards.com/threads/official-standard-custom-moveset-project-falco.380331/.
Also, if you can pull this off consistently in the heat of battle, then you've got one dangerous tech against people:
http://smashboards.com/threads/falcos-fast-fire-bird-perfect-landing-slide.395739/.