I think removing the speed of the game destroys it.
I had so much fun with the wavedash, it has a thousand uses. Directional airdodging was huge too, there's nothing like a perfectly timed triangle jump to a grab. No more dashing forwards, wavedash back, dash, wavedash... If this game loses the speed of Melee, it simply can't be as competitive. People were SO good at Melee, but you could always get better, get faster, get deeper... if it's slower, I'm deathly afraid that one or two tactics will be too dominant.
The speed of the game is why I was addicted. I have over 25,000 matches under my belt, I made Mewtwo good enough to take on almost anyone (except tourney gods), Fox was just way too much fun with all his speed and techs... I loved that you needed to press 10 buttons and 3 directions in the span of a second, it's so complicated and so insanely fast, it felt amazing to pull of crazy moves and perfectly timed ridiculous kills.
I'm excited for the game, but afraid it will no longer be so deeply competitive. After having perfect timing down to 1/60 of a second, how can I enjoy a slower game?