Ah, here's a classy player. Tell me something...are you actually arguing that Brawl is properly balanced with no items and only certain stages permitted? How ridiculous. Do you really believe that there's a difference between grabbing a hammer and chaingrabbing someone for 50%, maybe infinitely? Well, actually is a difference - you can fight back against the hammer! Which is more game-breaking? The item that can go either way, or abusing some aspect of the game engine to prevent your opponent from being able to act? I was hoping players like you would get it when they removed wavedashing, but apparently you still don't understand.
Brawl isn't well balanced regardless.
The problem with items is that they add almost complete randomness to the game (I say almost because of item drop spots, etc.) The community decided to ban items in tournaments long before you started playing for that reason. Items create an unfair environment, where a person's entire strategy revolves around stage control, in order to increase the probability of a benificial item dropping near them. Once the opponent picks up certain, highly disruptive items (a very large amount of them, mind you), the player's entire focus will be on dodging that item. The match basically turns into running around waiting for an item to come around (maybe attempting to hit the opponent away), and fighting over said item until one player picks it up and gains a clear advantage in the match.
Tournaments are played without items because we are competing with eachother, not random items. We play without items because we play for money (or even just for the purpose of legit competition). Having such a large random element in tournament play means that many matches will be decided by luck. In tournaments, we try to minimize the influence of luck on the result, and maximize the influence of the players' respective abilities.
Let me make it clear that I have nothing against playing with items for fun or in friendlies. Honestly, I think brawl is more fun with items involved. However, tournaments are a test of skill. If we have the means to remove random elements from gameplay (to a certain extent, obviously), then there is no reason why we shouldn't do so. I'm not saying that items remove ALL skill from the equation, but they will have a significant effect on the outcomes of matches.
As far as infinites are concerned, the majority of tournaments ban grab release and small-step infinites. While it's rare for the Ice Climber infinites to get banned (mostly because of the skill required to do so), if that's what your area agrees on, then so be it. Infinites that remove the relevance of any controller input from the opponent are just as bad as items, and should also be banned, in my opinion.
In regards to your wavedashing comment, I hope you're aware that we've never been using rulesets or guidelines laid down by nintendo. Regardless of whether something is a glitch, if it's in the game and the community doesn't call for a ban, then there is nothing wrong with using it. The smash community exists independant of nintendo and all game designers. Wavedashing is in melee and doesn't break the game; therefore, we use it. Wavedashing isn't in brawl; therefore we don't use it. It doesn't matter what the game developers' intentions were. All that matters is the options the game gives us.
I also agree with Pheonix Dark in regards to how this ruleset will hurt your community. I won't go into detail, because I feel he explained everything well.