This one isn't really a cheat... more of a skill.
I dont remember who, but this guy put together this thing called the Hylian Jump. it's basicly jumping from the right edge of Hyrule Castle down to that ditatched platform underneath. its a really helpful cause if your running it takes the guy chasing you a really long time to go around.
This isn't a cheat either: but if you look in the back of the
SSBM booklet, they give suggestions for how to play, such as Tag. but changing the rules of the game can prove very fun. Tag is great, Bombfest is fun too. Just change the rules of how you play to get a better
SSBM experience.
also, does anyone know anything about Wavedashing?