Got to spend a decent amount of time with the game today, so here's my breakdown of the character so far. I'll go move by move.
Jab:
Damage: (jab1 3 damage, rapid jabs 1 damage, final jab 2 damage)
Jab 1 is still great. Feels like the same coverage and frame data. As for rapid jab, you have to do at least four of them before you cancel into final jab. Which, by the way, is amazing. The final jab has a huge hitbox and G&W even leans forward it may only do 2 damage (I think), but It has incredible knockback at all percents, so his Rapid jab will almost always be safe instead of being completely punishable.
Forward Tilt:
Damage: 10
Despite the slightly different animation, I am pretty sure it has the same hitbox. I have no way of measuring frame data, but I think it has reduced cooldown. Seems like this move might have a lot more utility than it ever had in Brawl. But it doesn't really fit into the same niche it has in PM.
Up Tilt:
Damage: 7x2
This move kind of makes me sad. The front and back hitboxes are noticeably smaller so it won't really be useful fpr poping up grounded opponents. The other major change is that it is now multi-hit. I think if you can find a spot to hit with it it'll be a solid combo or juggle starter. Maybe out of the (spoilers) new Down Throw.
Down Tilt:
Damage:6
Um, woah. This move is VERY different. The knockback is pretty weak. You aren't going to be getting many gimps or combos with this thing. But more than that, it has a windbox. That's right a big ol' gust of wind comes gushing out of the manhole. This really messes with trying to use the move for edgeguarding, but in theory it might be a solid counter to some short hop approaches, because it would just push them back. The jury is still out on this crazy change, but it's certainly interesting.
Forward Smash:
Damage: Sour Spot (14>19) Sweet Spot (18>24)
No more lingering hitbox, and the sour spot is big and has priority. You could complement it on having a little more horizontal disjoint, but at the same time he loses the valuable diagonal coverage. It can certainly kill well if you use it right.
Up Smash:
Damage: (16>22)
Basically the same move with a damage nerf. It has long startup, low cooldown and a 90 degree angle. Just like FSmash it'll be a solid move if you can hit with it.
Down Smash:
Damage: Sour Spot (13>18) Sweet Spot (15>21)
Look at those giant hammers! I would say the hitbxes are a little smaller than the animation would lead on, but still huge. This is going to be his go-to smash simply on the coverage. Otherwise it's the same move.
Neutral Air:
Damage: 4x3
I know we were all looking forward to this move being broken with hitstun added and air dodges nerfed and I would say it doesn't disappoint too badly. It hits one less time, which is a noticeable nerf, but this is move is back with a huge buff from system mechanics.
Forward Air:
Damage: Sour Spot 6 Sweet Spot 11
The sweet spot does less damage, but the landing lag has been cut down a decent amount. That's a pretty decent trade I think. Otherwise it's the same move, though. Sour Spot is still awful and the landing lag cut isn't so much that it's going to suddenly start working on sheilds.
Up Air:
Damage: First Hit 7 Second Hit 9
Same move here. Giant windbox. Second hit has tremendous knockback.
Down Air:
Damage: Air Hit 11 Landing Hit 3
Significant damage nerf, but the arguably more important change here is that he can no longer slow fall the move. He has to dedicate to the fast fall now.
Dash Attack:
Damage: Sour Spot 6 Sweet Spot 10
The knockback of this has gotten some serious buffs as well as the angle being forward instead of back. I think the animation change also has him sliding a little bit more. All pluses.
Up, Forward, Back Throws:
Damage: 8
They seem the same.
Down Throw:
Damage: 4
This is like a little Melee Down Throw. I haven't tested all the combo potential here, especially since all I have are CPUs, but It almost certainly is going to be an easy free combo starter.
*!!Note before I go on to specials!!*
I haven't unlocked all the customizations so my impressions are just based off the default functionality.
Neutral B:
Damage: I don't care
This move sucks. I don't think it'll have any practical use. It's spam factor has been toned down, but nothing has be compensated. It doesn't land cancel and it's natural lag is tremendous.
Side B:
Damage: Brawl
Um. Same move as brawl, follows all the same rules.
Up B:
Damage: 6
Two noticeable changes. For starters, the invincibility in the middle appears to be moved to the startup. I'm not 100% sure on this one but I'm pretty confident that's what has happened. The second is that If you cancel it into an aerial you do not automatically fast fall. This should be an advantage because it gives him the option to fast fall or not.
Down B:
Damage: plenty
Bucket Braking is out. Bucketing has a significantly smaller impact on G&W's momentum if any at all, but they've buffed absorption. If G&W buckets anything "huge" (for lack of a better word) it will instantly fill the bucket. I tested it with Corneria's laser and with fully charged Samus charge shot. It does not work with mario's fireballs (he still has to absorb three). Later on I guess we'll have to test exactly what projectiles are big enough to cause this but I imagine it's safe to say things like PK Flash and Thunder will fall into this list.