It’s a real fighting game. I didn’t always think that, but I changed my mind after spending more time playing both Melee and Brawl. We actually had Brawl on the main stage in 2008 (with items on!) and I thought it was one of the best tourneys that year, with some spectacular finishes and outstanding play. Most of the competitive Smash community prefers to play with items off, which is their call to make, but we try to play a kind of “no holds barred” style at EVO, until something is proven to be undeniably messed up. I can’t imagine how crummy Marvel Vs Capcom 2 would be today if we had started banning things the first time we thought something was “overpowered” or “too random.” (Source)
The current FAS League play seems to be similar to the SSBB league play, or at least heading in that direction. Banning weapons is never a good idea so early in the game's development, since players haven't figured out counters; when you ban the weapons, they never will know how to counter them, reducing the amount of skill involved in competitive play. DysPatch, the league admin, even admits the M79 is not a problem in with smaller player counts:
Sep 07 12:56:17 DysPatch -
Sep 07 12:56:26 DysPatch -
Sep 07 12:56:31 DysPatch -
So why the restrictions on a single weapon that the lead developer doesn't consider unbalanced with lower player counts? An over emphasis on league play and the leader developer catering to a small but vocal minority will not get FAS to the level of popularity that older versions of FA had.