I've never played any sort of competitive Smash that involves more than two players per match. Four is entertaining, but it becomes pretty difficult to play competitively when it's a free for all and there's stuff flying everywhere.
If it has to be four people per match...I still say stock. Time matches simply determine the winner by who lands the most killing blows (or, at the very least, the final blow before the person dies), putting characters without easy to use strong smash attacks at a major disadvantage. With stock, it's at least possible to play any character and win, even if camping is a possibility.









