The vid with Shugo vs. Overswarm on this stage is a pretty good summary i think. He really knows how to use the stage to his advantage. This vid:
http://www.youtube.com/watch?v=VTjFmBhcoMQ
I feel like this is a pretty good level, not really bad for sonic at all. They have platforms for sonic to uair and fair when opponent is above, they got level ground for the spin dashs and running game. The windmill on the left of a transformation can be amazing for racking up damage, but you can also get screwed royally if it's done to you. Try up throw to dsmash like shugo does, works well enough unless the opponent has invincibility frames when getting up. Grass land is pretty much just a flat stage with a couple of platforms, nothing really. Rock stage, gotta agree with above, lots of stuff gets in the way and the only attacks you're gonna get are aerial. Forget the ground for the rock stage. If you spin dash or downB and you hit a wall, which this rock stage has a lot of, you'll be left pushing against it and very vulnerable for a couple seconds, so don't spin too much here. Lastly, the fire stage is a basic stage, a wall on the left side in the form of a burning tree. Same thing as above, don't sideB/downB into it. This stage has a platform as well.
For wall jumping, the rock zone is good cause on the left they have a huge.. rock. Wall jumping up and down that can add to some mind gamin, but it's pretty basic stuff, so not a huge mind game at all.
Recovery is pretty easy on this, it's kinda like final destination though, so watch out for those edges underneath the stage, they can kill. It has a weird edge though, i've recovered from it at times when I thought i was a goner for sure. The spring's momentum carried me up underthe edge, but i was able to still grab on when i DI'd for the edge grab. This didn't always work though, so it's got some weird property.
Hazards, watch out for the windmill on the left. It can be an asset or you can get wrecked. Plus, it can be hard to navigate around sometimes if you're trying to get through it to the edge. I try to use it to my advantage as much as possible. Bair your opponent into it and send em flying off the stage to the left, it's pretty amazing, especially if you get them going off the stage at a downward angle. Fsmash them into the windmill too, send em off. Any attack that sends an opponent into the windmill will most likely send them back to you too, so watch it in case they tech off the windmill and come back at ya. That's never happened to me yet though, so i'm not sure how likely that is to occur. The rock stage has a bunch of obstacles you want to watch out for, especially the middle where you're stuck between a rock and a platform tower. This can be good for walljumps as well, but you're prob gonna be teching off this wall the entire time, as sonic seems to get owned when thrown into here. Try to spring out of it asap, otherwise you could end up with a lot of damage from opponents that have better close range game than you do. Also on the right side there is a little separation from the trasformed level and the grey part of the original edges. When you're running from the grey edge to the rock part, you're gonna be stopped. You can't run from the grey edge to the rock part, there seems to be a little snag that stops the run in its tracks. Watch out for that. Lastly, i know that a lot of sonics love the spring-> dair and spam it a lot. Be careful doing that in any of the transformations, including the neutral stadium, because the changing of platform positions could leave you stuck to the ground from lag that you would otherwise have been able to avoid.
Killing potential is about normal for a stage i think. I haven't really done in-depth research on the edges or the ceiling, if someone knows better than i do on that, listen to them. I think the edge screens are slightly closer than battlefield, but again, i could be completely mistaken on that, so take that with a grain of salt.
Hope this format is correct. If there's any problem, feel free to comment/correct, and i apologize in advance if I stated something incorrectly. All in all, a good sonic level i think, i really enjoy the changes and if you know the level well it'll be that much harder for the opponent to win, or even get damage. Due to the walls in certain transformations, you could be living up to very high percents. Definitely one of my favorite levels to play with sonic.