I still think peach should be higher.
With her peach bomber, her float, AND her umbrella, she has one of the best horizontal recoveries.
Vertical recovery is lacking, yes, but most peaches will not put themselves in a position so that her recovery won't reach the stage.
Is her recovery gimpable? yes.
If she is using her umbrella, she can close and open it at will, and therefore making it slightly harder to gimp/come in contact with her. Good peaches use this well. They will not just go directly to the stage, oblivious to where the enemy is.
Peaches float can cover very large areas, approximately a bit more than half of FD. Though her float is a bit slow, she can still control her DI.
Peach bomber will be used if offstage, and there is no need for vertical recovery.
The bad thing about peach bomber is, that near the end of the animation, there is small lag. Peach bomber does cover good distance, though.
When a peach falls off the stage horizontally, she would not be an idiot go straight to use umbrella. Most of the time a peach will use any other option aside from her umbrella and second jump because those are vital for vertical recovery.
A very bad thing for peach though, is that if she is under a stage on the side... lets say under the lip of FD, shes facing the opposite direction of FD, and she used umbrella. Because of her inability to grab the ledge while her umbrella is open, and while she is facing away from FD, this pretty much screws her over. That doesn't mean its impossible to get back up while in this state, though. If peach is high enough, she can close the umbrella, and grab the stage ledge. If she's too low she'll fall to her death.
Yeah, peaches vertical recovery isn't great, but it's not useless. Her horizontal recovery is really the opposite though, as she has many options to get back on the stage.
Peach still is way too low.