I've messed with it in a few matches. I just prefer to go out to them, maybe with a short-hopped egg throw while approaching them if I want to use an egg. It just doesn't seem as useful as in melee with the ledge delay.
Well that's not always smart. Certain characters you need to be careful going out to them, such as Kirby. Who can gimp you very easily, also inhale you, and various other things. While staying on the ledge gives you better options in two manners. One you can throw eggs at them, and drop them a good bit below stage level. This beats standing on the edge, imho. Two, and it puts you underneath them when the recover. Unless they recover really low, in which case on stages like FD, Dair them. but being underneath gives you a lot more options than staying on the stage, and camping. Also, more than going out to them and risk getting nailed. Which will catch up to you.
i thought about this too..... i just wasn't sure what good it would prove since im never really in that position.... =\
Put yourself in it, it's purely a set up position. Get your opponent offstage, ETS into edgehog and then do ECEs aiming outward. When it hits them, do a rising Fair/Dair/Uair/Nair/Bair. Bam, you just used eggs to set up a kill.