I am assuming you are using default controls. To do the grab out of quick draw you just jump an then grab during the jump squat animation. The timing is similar to that of doing a tilt quickly. To do the up smash out of quick draw you have to use tap jump to cancel. With the tap jump cancel you can press A to do the smash attack or you can use the c stick. I would suggest using A just because it is easier. This is Metroid's video about quick draw just in case you haven't seen it yet.
http://www.youtube.com/watch?v=NupLwn0Ty0c
Ike is a character with a lot of options. The list of things you can do out of quick draw is incredibly long and it is impossible for your opponent to prepare themselves for all of them and all of his aerial attacks either make for great combo finishers or combo starters. I tend to play him like a bigger Marth with different combos but you should experiment as much as you can and find the style that works best for you.
I forgot to mention Ike's hit boxes. Ike' sword is weakest at the tip and strongest at the hilt. It gets gradually stronger the closer to the hilt you are and there are weak hit boxes on Ike's arms if you go to far. Unlike Marth and Roy, Ike's spacing doesn't actually matter that much and you should just keep the hilt sweet spot in mind instead of going for it. The tip and the center are both great for comboing opponents and the center of the blade kills just as often as the hilt does. The way you want to think of it is to combo with the top half of Ragnell and kill with the bottom half when you are done, or at least that is how I think of it.
Don't steal credit for my terrible Ikeisms, Commander.