I noticed something during a Mr. Game and Watch vs. Captain Falcon match I just had.
Mr. Game and Watch's uair has the property of pushing enemies upwards, even if he isn't touching them! There appears to be quite a bit of range to it, although enemies who are on the tip of the range get pushed very little. I noticed this when I tried to uair and C.Falcon tried to d+b. It levitated him long enough for the move to be midair too long and not hit me!
This alone improves Mr. Game and Watch. I can the potential to literally jump up to enemies who are too far up and actually pushing them off into a stage KO (Using his Fire special, he can jump up VERY high). It can also keep those pesky Toon Link's who like to dair straight into you away if you do it right.