Just played it with a friend. Killer graphics, great stages, but the amount of items and the way they're used is pretty chaotic. Definitely gonna play the same way as PM and Melee and just turn off the items.
Also played as some new characters like Pac-Man, Palutena, and Little Mac. Little Mac is exactly as I expected. Overpowered on the ground but if the opponent can get him in the air, he's screwed. Pac-Man was neat as well. Palutena actually surprised me. She's better than I thought she would be.
The game still feels a little floaty and slow but I didn't expect it to be as fast as Melee. Sakurai's just going to have to bring back that fast-paced gameplay that Melee had in order for me to like any other Smash game as much as that one, and I don't know if he'll ever do that. Marth always feels really good to play in Melee and PM and in this game it just felt really weak. Oh well.