Realistically it's probably even or -1 Peach.Why does Peach have a +1 on Falco? Can't Falco SH laser her? I'd like to hear more about this.
Falco forces Peach to float at weird heights because he can just SH laser her out of it normally.
Falco can't CG peach as far as i'm aware (maybe gets like one regrab at 0 or something, and then dair out of that), and his jab stuff can easily be nair'd a lot of the time.
Falco also punishes peach for pulling turnips in neutral, because he can just reflect them back.
Peach's jab is frame 2 along with Falco's, she doesn't lose the ground game in that aspect. She also has an early CG on him though it's usually not relevant.
It's also a MU where they both live to ridiculous %s, Falco can't kill Peach at all, except with like bair or f-tilt (he's rarely going to get an Up-smash kill, and Peach will never air-dodge into f-smash lol). Peach has her regular trouble killing.
Because of float, Peach can cover basically all of Falco's recovery options and react to them. Dash attack at higher %s also sends him at a weird angle off-stage which can be abused, and it pokes a lot because of her aerial shield pressure.
But lasers are OP so Falco makes up for all those disadvantages lol.