Of course, his physical attacks are also pretty good. Not quite as strong as some other characters, but I should remind you that he can easily hold his own against most characters (except maybe the powerhouses) in a straight up physical 1 on 1 battle. The only characters I've encountered that honestly require ranged damage are characters like Jigglypuff, that are so damned weak and light that they simply cannot do much in battle. I think Game and Watch and Jigglypuff and Pikachu (ot a much lesser extent) are about the only characters in Melee that honestly require someone to fight ranged.
Other than that, it's more or less based on the player's tendencies. In Melee, Marth is a pretty good all around fighter, but I always use him in a hit and rus fashion, constantly attacking my opponent and dodging and getting out of the way when they try to retaliate. I could fight them in a straight up physical blow for blow type scenario and I could likely give just about any character a run for their money, but I simply prefer my style of fighting.
When I play as link/any link version, I make extensive use of bombs (because they are a great way to set traps and piss people off and do good damage quickly), I don't use arrows, because they're fucking useless at close range, boomerangs are kinda useful, because they can interrupt someone who isn't watching you closely enough and give you a chance to attack them, but the rest of what I use is physical attacks. The link characters are useful when it comes to doing damage and knocking your opponent down, or away.