I spent a day playing with smooth lander. Here's some observations:
First, the offensive gains on-hit are very sparse. There are very, very few combos smooth lander allows, since landing aerials so rarely link into other moves at this level of hitstun. They are almost exclusively low-% followups like MM fair-dtilt or Marth fair-ftilt. (Followups which normally frame trap anyway; SL just makes them true combo instead)
If you think the game feels substantially different on-hit, sorry. Placebo is a hell of a drug.
Second, what DOES change dramatically is on-block behavior, though really only for fast characters. Characters with ~10 frame landing lag aerials are now safe on block unspaced. So moves like:
- Diddy bair
- Palutena fair
- Sheik fair/bair
- ZSS bair/uair
- Mario bair/uair
- Falcon bair/uair
...become safe on block. They still give the opponent frame advantage, but it's so low that it's not actionable for almost anyone. (Maybe Mario, Marth, or Bowser can up-b)
This huge gameplay change had two implications:
First totally-safe-aerials was
REALLY unenjoyable to play against. I normally don't roll much (rolling is bad and shielding is better), but now shielding is useless the moment these characters jump. So I ended up rolling a
lot more. There was a lot more running away in general, since standing your ground against aerials was way less viable.
Second,
this only applies to the characters listed. Poor Ganondorf and Charizard; we'd still shield and punish their failed aerials all day long. Sometimes punishments were a little less (most smashes won't work), but that's small consolation when Diddy is doing a tap-dance on your face with a bair that is safe-on-block regardless of spacing.
It's very Melee-like in the sense that the fast top-tiers become broken, and everyone else gets to cry about it.
tl;dr - I still think that everyone's obsession with landing lag is completely misplaced. Reducing landing lag doesn't affect the purported goals--it doesn't add more on-hit options (combos), it doesn't help slow characters, and it forces people to roll
more.