It's very good, yes. Be ready to quickly move if you're hit by a PSed laser, or be ready to shield it back. If you really want to keep lasering, you can shoot a low one, jump over it and not fastfall until you've cleared it (if at all) while shooting the second laser, which can mess with people trying to act out of powershield quickly. Lasers deny air space to the opponent, and don't let them do a lot of attacks if you have the space; they can be used to prevent the opponent from attempting a setup.
Just remember not to laser too close, and lasering from far enough might not accomplish much of anything on stages that aren't FD (in a truly neutral situation, the opponent may have time to entirely go around it while you commit to your jump and laser). If the opponent CCs a laser, they can gain free ground. Don't let yourself drop a punish from lasering too much, and don't lose too much ground. Combo out of laser if you can or do something to push them back. Otherwise, on stages that aren't FD, abuse Falco's insane jump height and try to maneuver across platforms so that you don't get hit until you're where you want to be.