sorry, but they're crap. Doesn't matter if they're easy or hard, they're still crap. I don't know about wavedashing but snaking has ruined Mario Kart online for me. (And yes, I know how to do it)
The main problem is those who know and use the exploit will always beat those who don't. It's not about giving someone a small advantage, but making it impossible to defeat them. Unfortunately there are these bugs in every game and so long as the bugs exist people will exploit them.
Help! I'm stuck in a forum signature!