You are right, the Falcon Punch is no longer entirely a "only works if I get lucky" move. This is because there are certain situations in which to use it, like after conditioning a recovering opponent to roll onstage with gentleman pressure at the edge and then catching them with a reverse Falcon Punch, or after reading an airdodge. In some situations however, I do not agree that The People's Elbow is a more potent kill option because of the Falcon Punch's ability to be used mid air. For example, say you down throw someone at 80% and you KNOW he's gonna airdodge into the ground. First off, you can pressure them to airdodge just by jumping at them directly after the throw, so you have more insurance that they will airdodge. When they do land, they will be hit with 25% and will definitely be killed. However, if you use forward smash, you are sacrificing knock back and percentage because you cannot charge it in the air. And although you can hypothetically tomohawk and fsmash for the extra endurance, it doesn't really matter all that much if you are absolutely sure they are going to airdodge. But style wise, the Falcon Punch is ALWAYS the flashier option just because it's the Falcon Punch. You might be able to do a 360 Falcon Punch by turning before you jump and and doing a reverse Falcon Punch for 28% and and absolutely guaranteed kill.