I personally prefer Explosive flame, Super speed, Lightweight, and am currently leaning more for warp but still like jump glide.
If AR could jab lock better and more reliably I would use it and say it's the superior neutral b, but it doesn't. Maybe if it's buffed in the next patch I'll like it more. Plus people can just run under AR since it locks on and takes 30 frames for the first projectile to even spawn. I prefer the spacing and coverage that EF offers and EF is a much better move to use in doubles. If say a Lucario is doing aura sphere on an opponents shield, Palutena can use EF from behind her teammate and add even more shield pressure.
Reflect is match up dependent. I would use it against villager and mega man and that is probably it. Super speed can be used in almost any match up and sets up for kills. I also prefer the options I have out of super speed compared to what I can do out of missile.
Counter is bad, there should be no denying that. CF can prove useful in situations and betters her defensive play, but as of now (in default where she is naturally defensive) I don't use any special moves in a neutral situation aside from warp or reflect depending on the situation. I find the kill confirms and movement lightweight offer to far greater than anything the other two offer. I do understand how CF can be useful, but not counter.
I used to be more for JG, but after customs have gone away, I've started liking warp a lot more. RJ just doesn't have the recovery I would like. Sure the move can kill, but when I have 3 other moves that can kill or set up for kills and 2 of those also help me recover I'm gonna choose another recovery option. I think both warp and JG are equally usable: warp has the upper hand in recovery but JG has the better offense. I think they have equal movement with ledge cancel warp and the ability to float above the stage moving forward or backwards.
If I had to choose 1 move set it would be this and as of now I would choose warp. Which brings me to a point I've been raising in other places: I think Palutena should be allowed, like Miis at other tournaments, 1 move set or at the very least give her lightweight. Like I said counter is just bad and in no way does it help her. This is the set I would vote for if TOs asked for a standard Palutena set. It gives her IMO the best mobility, best kill potential (minus RJ), and best recovery. Again, if AR gets a buff and jab locks become easier with it then I will probably switch my vote to AR over EF.