...has the fastest meter gain in the game, has stepkill second only to Natsu, has three of the best launchers in the game (two of which OTG), has really good pokes, and GBs really well...
Meter gain - evidence?
Stepkill - her AA is very good. 3A+B is nice too. But her stepkill does very little damage compared to other characters, and she only has stepkill at point blank range. Look at the damage Nightmare, Xiba, Viola, (you already said Natsu), Yoshi and Cervantes can do with anti-step. Her 66AA is just not very good at all. It is high and gives little reward, and the second hit can be JG'd for a punish. If you only do 66A we are talking about a pretty pathetic move.
Launchers - FC 3B is slow as you have to crouch first. Also, unlike in SCIV, Leixia does not realign when she crouches, meaning if your opponent steps at any time, Leixia just goes right ahead and attacks where her opponent was before, meaning it whiffs very badly sometimes. 3B is good but only leads to 41 damage. Characters like Viola, Mitsu and Cervantes get nearly as much damage simply by punishing this move.
Guard Burst: she really doesn't. If your opponent knows the match-up they will never block 66BBB or her feint cancels because there is never any need to, they can be stepped of JG'd on reaction everytime. Her pokes with heavy GB damage (33B, 66K...) were toned down significantly in 1.03.
When people were first claiming Leixia was weak, I was sceptical and initlally proved myself right and continued to get easy wins. But once my opponents started to get the match-up down and stop letting me get away with BS, it became ludicrously hard. All her evasion, pokes and +frames mean very little in this game because damage in this game for most characters is so high. You can poke and evade all you want, but you make one wrong guess and you lose more damage than all of your little pokes put together.
It's not just me who thinks so. Many of the top French players think she's laughably bad. Kalas and Kayane have given up on her (Kayane has switched to Viola). I haven't given up on her just yet, but it's becoming harder and harder to believe that she's got what it takes to win a tournament.
If you can take on top players who know the match-up properly, and beat them by playing solid (not by just out-guessing everything) then of course I will reconsider. And I honestly hope you can prove me wrong, cos I don't want to have to stop playing this character.