He's the only potential Wyvern Lord asides from his brother who you can only unlock in creature campaign. Asides from that you get Vanessa and Tana earlier. Personally for me these are the reasons why I would just promote him into a Wyvern Lord instead. I prefer Wyvern Knights over Falcoknights.
Speed isn't as important in the story as it is in Link Arena so it all depends on what you're after. Usually all of your characters will outspeed around 90% of the opponents in the story so with this and my stated reasons above, I say Wyvern Lord :)