I have to experiment with it more, but in theory it seems plausible.

When grabbing the edge, use Reverse Aether; if you DI backwards you can grab the stage with your back and get off an Aether spike. If your opponent tries up+B'ing back, you can either edgehop DAir spike them, edgehop BAir to knock them out, or even lower yourself and Reverse Aether again so that your sword covers the edge and forces another spike. The thing that's best about Reverse Aether, in my opinion, is that you can use it from all the varying levels that Aether gives you a vertical height; you can do it straight from the edge to get higher characters, or you can go low enough to cover the edge with your sword. The bad thing about this is the risk of suiciding and/or missing your opponent so they edgehog you.

I could see it working against characters with a predictable recovery (Falcon/Ganondorf) or those with a high-priority up+B (Lucas); does it seem to have its uses?

I haven't tried this yet but it sounds useful, I just need to try it against other smashers to see if it works.

Ohhh i just gotta test this

I've done some testing on my own against level 1 computers. It turns out that this doesn't work as well as I thought it would. When you DI back to grab the edge, your opponent can escape the Aether spike occasionally. Also, there is an extremely high risk/reward factor, and it is harder to aim than I expected. Still, it's flashy and has its uses.

This is actually pretty good for interrupting Fox's up+B when they're coming diagonally-up from under the stage; the only danger is that if you miss, they'll automatically edgehog you . Even so, if you get it off it'll force them to use their slow up+B, giving you time to edgehop BAir or spike them.

I tried this and the only way I can do this without SDing is if I go near the ledge, jump off and before I automatically grab it, I use Aether. Whenever I try something else I die.

I haven't tried it yet but it sounds reasonable, you would cover the area from the height of Ike's Aether down to the edge for the spike, maybe if you just did regular Aether, you would land on the stage and wouldn't have to risk being edgeguarded?

After further testing, I have deemed it an effective edgeguard against Bowser, Fox, Falco, Wolf, and Pit (when he gets sloppy). However, it only works on the space animals when they're using up+B, and at those times you can just use BAir.

Well the only way I can now do this without dying is when I use Aether when standing on the ledge facingthe area where I would die.

I have to try this

Not entirely related to the edgeguard I outlined above, but this is pretty funny.

http://uk.youtube.com/watch?v=BAXyEaqNYhg