Super Smash bros Melee so far... we will see what kind of advanced techs are found for brawl as time goes on. Even so, basic techs are tough to master. Take Lucas's bat smash attack. It has very minor start up lag, possibly not even enough to get your own move out to counter, or even get your counter attack up (may be lucario could)
So, you can take the hit, attempt to counter/counterattack but most likely fail, shield, dodge in place, or dodge roll towards/away from Lucas. (you could also short hop air dodge, but except for highly specific circumstances, ex trying to kill lucas with a wario waft, this is idiotic) If you are close to him, dodging in place is probably best if you have incredible timing, and dodgin behind so do an AAA punish combo is probably your best bet, as you can then punish. If your character is further away, dodge in place and do a quite Fair, or dodge roll away and charge at them, ready to counter whatever they do. And this all takes place in about 1 second of gameplay.