Ok let's break up the hints here.
-Almost everyone think this character is strong (top/high tier)
-Not placing well in tournaments (so not MK or snake, just high tier)
-Great projectile game (by this point I'd say the only characters fitting the criteria so far is D3, Olimar, Pit, or Toon Link. Why not Zelda, Falco, or Pikachu? Because not everyone thinks those characters are strong. Falco maybe, but he doesn't fit that description at all like D3, Olimar, Pit, and Toon Link do.)
-Good recovery that is very hard to gimp or punish (That rules out D3, Olimar, and Pit. Toon Link is the only remaining choice.)
-Recovery move is useful on the ground (Toon Link fits here too)
-VERY annoying character (Toon Link IS extremely annoying. Frikken back air wall of pain

)
So yeah, my bet is Toon Link.