Everyone, except for Zamus and Sonic, seems to wavedash faster than they run.
Bowser makes the whole screen shake seeing as though he's constantly hitting the ground.
Ganon's is fantastic compared to his run, this is a much fast form of travel. Zelda and Dedede also gain a lot of speed from this.
People with Zair's can use them just after they do an airdodge to land with no lag.
Your partner can't wavedash with the Ice Climbers.
Olimar's Pikmin can't keep up with him if you do it constantly.
Fox can attack as soon as he touches the ground after an airdodge.
Jigglypuff's is amazing compared to her running speed.
Ike's is absolutely fantastic, this is almost as good as Luigi's, plus his Counter gives him this really quick and strangely long boost, and he can jump or attack after he does an airdodge, seeing as though his helpless animation takes ages to start.
Ness and Lucas' are really good.
G&W doesn't flash during his helpless animation.
Every character can wavedash into a f-tilt/d-tilt with no lag. This helps out people like Snake a lot.