On the subject of Blast Attack. It does attack much faster than Homing Attack, IASA is also available earlier.
When you first see it, it doesn't seem to be exactly useful. But as you start exploring it, you seem multiple situations were it can be used in battle, sometimes to extend a combo for 1 or more hits, sometimes as a surprise attack, pick up a failed tech, it has many little uses.
Depending on the opponents's DI, it can even combo into itself in air, much like how homing attack functions on sonic's games.
Due to being extremely fast, it can also hit people before a certain counter attack hits you. It's still punishable though. It can't home, so, to use it properly, you have to also remember that it can be reversed like other neutral Bs, and aim well.
It's a function that's worth exploring, be sure to get to the lab once the new version is released to see how that option fits on your playstyle.