Okay, as requested by a PM, I played Wolf some more to give more impressions of him.
Note all of the below is just my own opinion, and I'm not a huge Fox/Falco player nor a big Wolf fan (probably not going to play him much) so keep that in mind.
First, I rescind my statement that he is the next fox/shiek. Sadly, so far it seems the same top tiers from last time may hold their position - Marth, Shiek, and Falco are doing very well. This may just be familiarity with them though. Wolf is still very good and may still be top tier, but I'm not as afraid of him now.
The thing that hurts Wolf a lot is his incredibly slow speed on the ground. He's one of the slower characters in the game on the ground. This makes it very hard to do things like run and grab someone, making his grab game inferior to Fox/Falco. It also makes tech chasing difficult, although his Side Smash helps a lot. Still, I found this difficult to work around - I'm used to either fast running characters or slow characters with disjointed hitboxes or more power on their moves, and Wolf is neither.
His reflector stuns opponents for a good while before they move away from the impact (like Samus's charged shot). It seems to give the impression its a more powerful hit, but its hard to land and I'm not sure it can be used as a shine spike. Its great for reflecting projectiles though with its property of doubling their return speed.
His Up+B seems like a spinning kick or something, its hard to see clearly, but its a great multi-hit power move with good priority. Unfortunately it does still have a pause at the beginning (I thought I saw someone claiming it did not). Also during the pause, I don't think he can hurt anyone like Fox/Falco does with their flames - his version doesn't use fire.
Wolf's best move IMHO is his Side+B and his Side Smash. His Side+B has all the great properties of Fox's, but is better for recovery with its upwards movement and is also one of, if not the, most powerful moves Wolf has if aimed correctly. Wolf's Side+B is a kill move. Make sure to aim it so you stop right overlapped with an opponent, and they will fly away and often have no idea what hit them since you warped in so quickly. This is one of the major differences between him and Fox/Falco - they pretty much only use their side+B's for recovery or the occasional surprise hit, but Wolf uses it to finish people.
His Side Smash you are all well aware of its property of zooming him forward and being effective as a surprise attack from a distance. Its and the Side+B are first 2 moves I saw him do and the reason I originally thought he was slated for top tier.
His Up Air is a great juggle move, its similar to DK's in that he can keep the enemy in the air for a long time with it. However, he can't kill with it, so you must depend on his Up Smash for vertical kills.
He does have a Meteor Smash, which is always nice.
I don't have much else to say about him - he doesn't have anything super special about him other than the reflector's extra property, the warp dash being a kill move, his forward-rushing Side Smash, and his air speed being better than his ground speed. The rest of his stuff is fairly standard fare and you can see how he plays in videos. Sorry I didn't have much to add.