Soulcalibur V, Exploring the depths of Guts

Personally I feel guts, is really only useful when not trying to get K.O.d by a 2K or anything of the sort, but in all reality with SC strings, combos, hit confirms and such I never noticed it to make much of an impact. The ONLY thing that I find crazy when having guts, is the red Just Guard where it makes Ukemi JGs a lot more reliable. Yet still not that big of a game changer, other than that, the other notions are still there, and wasn't it confirmed that the new Counter mechanic goes through reversal edge? Or am I mistaken?