The most annoying thing about fighting Zelda is her incredible spacing tool of the ->B. The timing is often hard for someone to anticipate if you go off of the incoming Din's Fire. This causes perhaps the first few hits to be blocked, but eventually a failure occurs within the first five attacks which is viewed as a successful spacer for Zelda. Most importantly, most Marth players remove their eyes from Zelda in order to avoid the incoming Fire Ball of d00m. They'll jump and charge frantically...
In actuality, the timing for the move is irrelevant. You don't even have to take your eyes off of Zelda. In order to turn the move into a lethal force, Zelda -must- activate an animation which involves her hands from her back, to snapping forwards. This snapping motion is the instant that the attack has become a damaging force, and the moment that it needs to be dodged. If you're standing, this means simply doing a Down+Shield to avoid all chip damage vs your shield.
All you simply need to do is watch her hands, and they'll tell you exactly when to do your side step or air dodge. No more second guessing or mind games with Zelda. After you perfectly dodge around five, a Zelda player will -give- up the strategy of spamming. Once a strategy has been ruled ineffective, anyone with common sense will give up. Sure, they can use it as a spacing tool, but it won't advance their battle plan.
Once the 'tell' has been mastered, you can go onto the offensive. =D