Uprising did shed a little light on Pit as a character, which was pretty cool, but I don't think more people will pick him up until they start seeing solid/consistent tournament placings with him. Heck, I'm surprised more people didn't pick him up because of watching Armada beat Mango.
Chaining Fairs is easy on most of the cast, I normally don't chain Fairs much on Spacies, I sometimes go for other combos, like..I love using D-air in combos and following up from that, spacies are just free to whatever Pit has when he gets a grab. For floaties like Peach, Zelda and Jiggs, I never go for chaining Fairs, unless it's low %, when you get like 2 after a D-Throw. Otherwise, mainly U-Air strings against them (Keeping them in the air is ideal), and if you're at the right %, hit them with the Xeven special. (Weak U-Air > Up-B) for a strong kill.