Is flight going to have different properties for each character? If everyone's flight is as good as Sakuya's, and everyone can attack freely without losing flight, I can easily see "wall of pain" combos taking the place of traditional edgeguarding. Consider giving the majority of characters unique limits on their flight. For example, Yuugi might have low duration and traction on her flight, meaning she really has to commit to her approach. Cirno might slowly drift downwards during her flight, making it less useful for off-stage and emphasizing air-to-ground combos. That's not too say that good flight shouldn't have a place in the game, but it should be reserved for characters intended to have great air game.
The L-Cancelling change bugs me a bit, since the ability to cancel any aerial's landing lag would mean we wouldn't have powerful but risky moves like Link's dair anymore. You need low landing lag on most attacks, but also a few exceptions where it makes sense.
