Cloud is a very interesting character. I only got him a few days ago, but here is what I'm thinking about him.
I know this, DO NOT TRY AND KILL PEOPLE OFF STAGE VERY FAR. Cloud's recovery is pretty bad. You're not getting anywhere much. It has basically no horizontal range, and barely enough vertical range to be even considered as a recovery. BUT, if you have Limit Break, then yes. Go for it. This basically makes up for Cloud's recovery. You can be all the way to almost the end of the screen, and then with Limit Break, you can come back easy.
but.... you are easily punished if you make a landing. Choose wisely how you're trying to recover. And if you're at the ledge, don't hit B a second time or you'll kill yourself.
Kills, first off, you should always try and kill someone with a Limit Break. High pressure can happen because one wrong move by your opponent at a high percentage means death. But, make sure you land it, because missing will give you a hard punish. You can attack to fill it, or charge it by holding down b.
LB (limit break) Down B deals only one damage, but if hit at a high percentage, it will make the opponent basically go WOOOOSH. Basically, do this at high damage, and make sure you land it.
B is, not really a good spacing tool.... you have some lag that if you miss you can be punished, so be careful with this. Weak in air, should mainly be used on ground.
LB version can't be interrupted, hits multiple times, and a kill move.
Side B is a good move, it performs an attack with some kanji written. Great back away tool in my opinion.
LB version deals more damage, and is a kill move. Can shield break if in LB.
Overall, Cloud is definitely a fun character. He has all these tools that make him a dangerous character, and can apply pressure, and playstyle can change if in LB. However, you should mainly focus on the ground, as some of his moves suck in the air, and he has a poor recovery unless in LB.