That's generally how she'd work, though there has to be the factor of balance. I mean we don't want a situation like Link who cannot take advantage of utilizing the projectiles, or a situation like Zelda who cannot approach well. In general something to compromise between the two and to add a different flavor from the norm. You know, because nobody likes it when a character they want turns out to be crap. In general, hopefully she's not too slow.
The Power of Action Replay.
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I'd main Palutena and Pit. Pit as the #1 and Palutena as the #2. That is presuming it would actually happen, considering that Sakurai is a bit of a loose cannon.