I've always infinitely preferred SSBM to SSB64. But the original game was still brilliant, especially for the time.
My friends and I are totally the opposite, Smash Brother, at least in SSBM. When we knock someone off, we look down on people who "edge guard" and knock them straight off again. We think it's cheap, and shows a lack of skill and sportsmanship. Not to suggest we can't get around it; playing as Marth I have a foolproof way of getting back onto the stage. But it's less exciting, I always thought. We agreed to start edge guarding once we get a person up to about 90% damage, but even then I hardly do.
Game is looking fantastic, though. I love these updates, and I'm getting quite psyched.