It's good for variation, every wavedash is good to use. Wavedash out of shield is a brilliant technique that Falcon can utilize very well.
The few problems I saw were too many full jumps, full jump -> falling aeiral =/= good approach, you did it way too much, learn to short hop more consistently, and if you're doing it on purpose, don't.
You ledgehop -> knee WAY too much, nair or uair would be much more appropriate versus sheik. You also ledgehop dair'd a couple of times, this is not good, use it sparingly.
Also, where's the raptor boosting? Where are the grabs? Your raptor boost game was non existant (I don't remember one) and your grab game was severely lacking.
Your approach could use work too, there were a lot of nairs in there, but they were all full blown approach, take it slow sometimes, just throw some out in a stationary position, throw a few out, mix it up, then rush it.
Don't taunt after every kill. Especially if they are not amazing, knee's are good, but you need good **** to fully utilize captain's taunt.
Ummmm can't think of much else right now. Maybe more matches would be nice.