Pretty disappointed after trying him. Sure you can smack new people around with him easily in for glory. However, given how incredibly slow he is, I can't see him being viable at all at higher levels of play. The endlag on his moves is so long that punishing Ike is child's play. It's incredibly frustrating trying to play him coming from Project M or after using faster characters such as Sheik.
Had the same experience at a local tourney last weekend. There was an Ike player that did well in pools based off of sheer shock value and unfamiliar custom moves, but when it came down to the bracket, he didn't last long. It's just far too easy to dodge/wait out/bait his moves and end it. Not to mention his sub-par (standard) recovery compared to the rest of the roster.
I really do hope someone proves me wrong here, but at this point it's not looking good for our hero of blue flames.