I would throw an offensive move in there somewhere so it doesn't become complete Taunt bait (even though Taunt isn't even used that often :\ ). To be honest, Toxic is good enough for status, as it helps really well considering it's defensive, and Thunder Wave really doesn't glue well imo
That is incorrect. Thunder Wave is in fact one of Lugia's greatest techniques, as one of its main purposes is to not only counter many offensive threats, but also to paralyze them so that they can be easily picked off later on in the match. For example, it can easily switch in to counter the opponent's Mewtwo, paralyze it, keep using Roost until it regains Multiscale (since Mewtwo will be fully paralyzed eventually), and then Whirlwind it away. At this point, the opponent's Mewtwo is now essentially a non-threat, as it can easily be outrun by just about any Pokémon and destroyed by their powerful attacks later on in the match. But in the absence of Thunder Wave, many fast and powerful offensive threats such as Mewtwo, Latios and Dragon Dance Rayquaza become much more difficult to deal with. I know being unable to touch Pokémon with Taunt or Magic Bounce isn't very good, but it's still the better deal nonetheless.
Flame Charge is okayyyyy, imo I would definitely slash Tailwind for that one. It allows it to run past some retarded scarf sh!t and DD sh1t. And Earthquake should be mentioned too.
Tailwind can indeed be an alternate option. I really like Flame Charge's ability to destroy Ferrothorn, Scizor and Forretress that have taken some damage previously in the process of raising Ho-Oh's Speed though, as well as its ability to break Substitutes on the same turn it raises Ho-Oh's Speed (this is especially useful against Darkrai). Also, in the Sun, Ho-Oh can destroy Latios with a Flame Charge followed by a Sacred Fire, and this enables it to not have to resort to using Brave Bird. Because after taking a powerful attack such as Psyshock or Draco Meteor from Latios, Ho-Oh is going to reduce itself to dangerously low health, and possibly even faint as a result of the Brave Bird and Life Orb recoil.
Hell, just use the damn physical sweeper set on smogon.
EDIT: just use this ability on any of the sets on smogon.
That could work with Ho-Oh, but definitely not with Lugia. Because while Pressure Lugia places emphasis on its bulk, Multiscale Lugia places much more emphasis on Speed, firstly because it is extremely beneficial to be able to Roost back to full health before the opponent's Pokémon attacks, and secondly because regardless of how much Defense or Special Defense a Pressure Lugia invests, it's not going to be bulkier than a Multiscale Lugia at full health anyway. That is why my Lugia has 204 Speed EVs, so it can outrun Jolly Groudon and Roost before it uses Stone Edge (if it uses Rock Polish, I'd just Whirlwind it away).
. Multiscale Lugia FTW