For example characters like Bowser and Ganon can perfect waveland with a completely horizontal air dodge, and I wondering if mario could do this.
You should practice both Back Air and up air wavelands.
If yo/u get efficent enough with BAwl's(back air waveland), it can be a good tool for spacing and movement etc.
one neat trick/bait is if you back air just right someones shield(you have to 1: perfectly input the Sh BA so you can act out before you land 2: hit the back air deep in shied. Like by mario's waist). . You can wave land/ air dodge right past them. Again this is if you are super clean with your tech.
Its sweet because it places you nicely behind your opponent, leaving them open for a jab. Its a Bait because most people (when you try to hit something on shield) will try to punish you in some way(usually a shield grab). When they do try to punish you, you'll be behind them and avoid the attack.
Also if you space back Air's on sheild correctly you could waveland in case they had some kind od OOs option.
Up air wavelands (UAwl) are a nice for combo's that may extend to far. their best use i find is to use it to past peoples shields. As my up air makes contact i past through shield with air dodge/wave lands before i can get punished.
Edit: 9/20/2015
ALso i use SH Up Air WL as a fake out option. I will approach with the SH up air but then waveland back before my opponent can hit me. I usually use this in close knit spacing games.
If I'm on the ledge what are ways I can re grab it and or get on stage
Ive been meaning to talk more about this. So im just going to make a thread instead, with gyfcats to aid in explanations. but in short. Invincible Up Air lip through stages, and invicble dair up towards ledge is very viable.