Am I right to assume that you can aerial glide toss and use zair instead of actually throwing something?
Yes, but I'm not sure if it's going to stay that way.
Right now, "aerial glide toss zairs" give a ridiculous amount of momentum, making it Link's (and maybe Samus') fastest form of horizontal movement, and having some weird recovery uses.
The reason the momentum thing isn't an issue with aerial glide tossing (with an item) is because the momentum boost stops at the end of the animation.
With a zair out of an air dodge, though, the momentum stays because the animation is so much longer.
This'll give you an idea of how far you can go:
Imagine that is Final Destination. Blue arrow is Link's jump, red arrow is him zair-ing out of a diagonally upwards air dodge.
I don't think it goes quite as far as in the picture, but you get the idea.