I wouldn't say it was completely even, I'd go 55/45 G&W since on paper, G&W still has the tools to make Falco's life difficult, and shut down certain parts of his game.
Luckily for higher level players, we also have brains, meaning that his on paper advantage can be nullified somewhat. His aerials are evil, but if a G&W is jumping at you with his back turned, it's pretty obvious what's coming. As everyone here as repeated before, his moves are very telegraphed, meaning we can avoid pretty much everything he throws at us with decent spacing.
So he has a bucket, but he can be punished badly for abusing it. He can be baited and punished too. Just remember, don't mindlessly spam, or as others have said just put him off by firing away into his unholy device and go for the usual wall of Falco lasers, but just be wary that his oil slick will kill you at 60%.
We actually rack up damage far better than G&W with our CG and lasers, and even better for Falco is that G&W is a complete featherweight, so if you get off a boost smash at even the early 100%s, he'll be hard pressed to survive. His smashes, however, are laggy and easy to avoid. Just space carefully and there's no reason why you shouldn't be victorious.