Current Falchions Ranked?

It's close between Alm and L!Marth being first. L!Marth is first just by a small margin since both of them need help from their allies that being marth needs buffs and Alm needs healing but can work without them.

The 3rd placer would be Lucina cause She has high atk and spd.
4th is OG Marth cause he has decent atk and spd and he can support allies which gives him a double role.
5th would be masked marth, same reason as Lucina but cause of lack of IVs that kinda gives masked marth the short of of the stick.
6th would be Chrom, he's not bad he has High atk and def but with low spd and res he will die to dragons because he gets doubled(and some dragons now adays get to really high spd)

I LOVE the Falchion weapons. IMO they really stand out and it's satisfying when dragons just get blown up in one hit.
1.) Exalted - strongest in my opinion; can stack an insane amount of buffs especially on a tactics team. The +3 Speed is also a neat bonus, too.
2.) Echoes - if this weapon brought even Alm from the brink of obscurity, then it's that good. Can never go wrong with a 16 might Brave Sword.
3.) Awakening Bond - reliable, easy to use. Works on both Player Phase and Enemy Phase with the only set-up being the adjacent ally (positioning really isn't that hard). Goes great with defensive skills such as Distant Counter, Close/Distant Defense, etc.
4.) OG Falchion - excellent support weapon, and the most reliable. +2 to all stats to allies within two spaces is great.
5.) Sealed - definitely powerful, but the worst Falchion IMO. It goes great with Brazens and Fury, but requires a risky set-up. It may just not be my personal preferred play style, though.

Falchion users, ranked:
1.) L!Marth
2.) Alm
3.) Lucina/Masked Marth
4.) OG Marth (definitely ranks higher if/when he gets Exalted Falchion)
5.) Exalted Chrom
6.) OG Chrom

I think Marth's Falchion is the best because it can be used at anytime, on any team, and buffs up to 3 units at once (up to 7 units in Rival Domains / Grand Conquest if you decide to have everyone huddle against Marth for whatever reason--I don't know why you would, but it's possible).

The other Falchion weapons are great and all, but they benefit the wielder only. I'd rather have a weapon that can buff up everyone and be useful at all times.

In terms of power and reliability, I'd rank the rest as follows: Echoes > Awakening > Exalted > Sealed. (All of them are really powerful though.)

Everyone seems to be ranking Sealed really low but I personally really like running it on my +6 Masked Marth
-Sealed Falchion
-Reposition
-Sol/Noontime
-Fury
-Wrath/Desperation
-Flex (usually Spd/Atk Smoke)
-Heavy Blade SS

After the first attack its Sealed Falchion will always be active even if Sol/Noontime heals Lucina to full as Fury occurs post-combat. While the desperation/wrath activation is a bit sketchy, it usually works out with enough experience running this build.