I do have to agree this Link is pretty amazing. I also like that he still has his double z tap tether edgehog trick.
Well, not to be such a pessimist, right now my friends don't know how to gimp Link, but once they figure it out, his huge reliance on up-B to recover will be an issue. One of my friends already figured out Sheik's fair almost completely out-prioritizes it in the air.
However, as of right now his match-ups with Sheik and spacies are much better, though of course the spacies aren't quite their Melee selves yet.
btw, I do have to agree the game isn't quite at Melee speed yet, its close, but still not quite there.