I only hate Falco because of his grab game.
Same with IC's, Dedede, Olimar and Yoshi.
Although with Falco I can usually space myself long enough to either kill him or get myself in the mid percentages where chain grabbing and junk becomes a non-issue. So it's not a match-up I mind too much.
About those posts above...
90% of the time Falco gets knocked off stage he'll be able to phantasm back. If he mixes up landing on stage and going for the ledge you'll have to play a guessing game on whether to put a boot down his throat (f-tilt) or insta-hog the ledge. If you guess right, he dies. If you guess wrong he makes it back but you're in decent shape as well.
The 10% of the time he can't phantasm back, he's either already exploding off the side or waiting for you to stomp his rediculously slow, short-range predictable up-b.
Down-b for super awesome spikes when he's forced to use up-b.
You won't die since his flame will knock you up after smashing into his head and you can easily recover from there.
Stomping Falco's phantasm is **** hard to pull off since he's only vulnerable I think in the very beginning of it, halfway through it and at the very end. Mucho props if you can stomp spike him when he's getting back via phantasm (his side-b btw)
I've yet to be killed by being phantasm spiked, but I've also had some retardedly close calls.
Also, I think Falco's spike is tricky to use, personally. I can only safely nail someone when I do a rising spike, like after the chain grab shenanigans or otherwise just after a jump in general.
As an addendum, we really need to work on ways around guarding against grabs in general.
Several fights would become so much more bearable if we could find a way around that crap.