My god, I love G&W. Just watch me rant and rave about how he's top tier.
G&W is definitely one of the best characters in the game. Quite seriously, I'm very sure he's the best character in the game. Just watch Cosmo play G&W.
http://www.youtube.com/user/Zjiin
He's got an unpunishable back aerial which I consider the best attack in the game. Gimpyfish himself notes that it almost always bypasses shields. Indeed it does, because it hits multiple times, and it does a
LOT of shield damage. Correct me if I'm wrong, but G&W's B-air by far is the most powerful shield punishing device in the game. That alone should be making G&W very high on the tiers, but it doesn't stop there.
G&W's other aerial attacks, while not quite as broken as his back aerial, are still freaking amazing. While G&W can't L-cancel his F-air anymore, it's still just as strong. In fact, it's still very hard to punish, because G&W DIs very very well, so you can remain outside of normal grab range by weaving in and out with F-airs, which also do significant shield damage. G&W's D-air makes him a fast faller (seriously, that gives G&W some awesome comboability options), and it's still got much range, priority, and power. The D-air also has a lot hit on the ground which can indeed bypass shields, and the ending lag animation IIRC dodges some grabs (and the lag very very short, like if L-canceled). G&W's U-air has so much potential due to the wind effect. This move is another that makes it very hard to punish G&W when he's juggling you to death with his combination of amazing aerial attacks and his VASTLY improved Up-B. Not to mention it has more knockback. I hear a lot of people badmouth G&W's N-air, but I think it's a lot better, because of multiple hits, coming out faster, and because it happens to be G&W's only aerial attack that autocancels (the fact his other aerial attacks don't autocancel isn't actually a bad thing, but the fact G&W CAN autocancel with at least one attack gives him that much more variety).
G&W's special attacks are really good. His Up-B has AMAZING potential. It gives him god tier recovery, and it makes him an absolute monster at juggling. It's very hard to punish because you can immediately use other aerial attacks afterwards. IIRC, I see Cosmo often using this move, then pushing people away with U-air wind effects so they can't hit him. Or his Up-B perhaps puts people in a prime position to be F-aired. G&W's Neutral B appears to be better in terms of range, and it seems more applicable due to the new physics engine. His Down-B is teh **** against projectile spammers because it's knockback is
GAY (can you combo into it with a D-throw? I bet you can). Not sure about Judgement, but in one of Void's team battles, he appeared to be able to combo into a 9 with a D-throw. =D
Next, his Smash attacks are like waaaaaaay too strong. Like...literally competing with Ike's strength, but not as laggy. He kills at ridiculously low percentages with his Smash attacks, and he can in fact combo into one of them with his Down-throw. His D-smash happens to be fast enough to be comboed into, and it MURDERS, both at the sweetspot, and at the nonsweetspot. The sweetspot kills easily at 100%, while the non-sweetspot (which is a super strong semi-spike, no less! Gimp kills anyone?) starts killing at 120% or so. The F-smash and U-smash seem to easily get kills at 80%. G&W is super super strong.
Oh yeah, and G&W's D-throw is next to broken, along with his B-air. While you CAN tech it, chances are people won't all the time, and a missed tech = free Jab, D-tilt, or D-smash (and I think you can Judgement too).
The only real problems to G&W include being lightweight, and that didn't stop Marth, Fox, and Falco from being top tier characters in Melee. And just because his attacks come out slightly slower than super fast, that didn't stop Captain Falcon from being the 6th best character in the game, nor is that stopping Ike from being really good. G&W actually survives pretty decently because of excellent recovery, and more importantly, he generally kills people at lower percentages than he gets killed at because of his super strong attacks and decent ledgeguarding abilities. He's also generally dealing damage faster than he's taking it because it seems he doesn't have very many defensive openings this time around.
Yes, I'm personally convinced G&W is the number one top tier guy.