Pros:
-Every aerial is good
-Down Throw is an amazing combo tool that setups combos at almost any percentage, even kill shots
-Plenty of kill moves to choose from (All Smashes, All Tilts, and All Aerials but FAir have ways to kill someone)
-Strong Jab
-Great Recovery, although that seems common in this game. She has multiple ways to go under stages completely and still recover.
-Has 3 Meteors (Down Air, NAir & Up Air w/ Sling Spiking)
-Rolls and Sidestep animation are deceiving to opponents.
-Dash Attack comes out fast, sets up things, and most importantly is projectile invincible
-Back Air is projectile invincible
-Strong Anti Airs (Up Smash, Jab, Dash Attack, Counter, Fireworks, Up Tilt, etc.)
-Fireworks (Custom Down B#3) is full body invincible on startup making it a strong option defensively.
-Reflector recovers fast and can make zoning characters have a hard time against her, as well as doubles as a way to gimp certain characters (Greninja's Up B)
-Has probably the strongest pool of custom moves to choose from allowing you to essentially counter pick your opponent without having to ever change your character
Cons:
-Most ground moves, especially tilts are very slow and punishable.
-Projectiles are easily dodged and can be punished.
-Smash Attack range is much lower than the wings animation/laser animation lets on.
-Custom move reliant. Her default setup leaves her approach tools weaker outside of Teleport gimmicks & her safe defensive options become extremely limited making her prone to getting rushed down by characters like Falcon, Sonic, Fox, and Little Mac.
-Certain hitboxes on moves will completely whiff if not spaced properly (NAir, Up Air)
-Meteors are hard to hit with, especially sling spiking.
-Isn't exactly the fastest or heaviest character. (Edit: Well, without using Glide & Super Speed canceling)