He recovers quick, so basically you can move around while the bomb still isn't hitting. In XF3 you can basically spam bombs full screen against someone without an instant beam and time whenever you want to go for a mixup.
@Chat: Excalibur has recovery frames on land, so no it's not safe on land like Doom's j.S.
On neutral, especially if without XF, Hiryu'z zoning is amazing if you utilize Formation Satellite->Shot. If it hits mid screen you can dash in and confirm with an S to a combo. Comboing with it full screen teleport is kinda difficult.
Also, agree with Karst; everyone underestimates the Wolf Formation. You can literally wavedash in alongside the wolf and actually simulate super armor of sorts as the wolf takes priority in getting hit by single-hit normals. This catches a lot of players off guard. You can also opt for a fullscreen mixup if you time the wolf->teleport well.
I still need to learn more optimal XF3 combos though. Right now I just do magic->MHS->Shot->launch->MHS->Shot->Launch->MHS->Legion/Shot->Ragnarok. --- UMvC3: Felicia (B) / Amaterasu (B) / Strider (Y). Offline player. "Ask them to stop spamming hitconfirms" ~Karsticles (08/23/2012)