Edit 2 [After the updated question, one should probably read the comments below first before reading this]: A few things
(i) Intuition from 1+1 dimension can be misleading. Waves don't decay there. In the 1+3 case, solutions to the wave equation disperses. So for the equation give by $L = -c^{-2}\partial_t^2 + \triangle$, even when the wave speed is bigger than the speed of gravity, the solution is not incompatible with mere decay at spatial infinity. (Though of course, since the equation is no-longer Lorentz invariant, speaking of Spatial Infinity is somewhat of a red-herring: the conformal compactification of the space-time does not give a compatible compactification of the solution to the equation.) If to rule out such cases you need to also impose a rate of decay.
(ii) When I said local well-posedness of $L$, implicitly I mean on a suitable function space on space-like slices. For (strictly/symmetric/regularly) hyperbolic equations, you can of course study the characteristic cones and compare against the back ground null cone to have the decay automatically also satisfied for boosted slices.
(iii) As a trivial example, also note that in the $\partial_t v + Av$ formulation, you can take the Fourier transform to get the solution to be $\hat{v}(t,\xi) = e^{-A(\xi)t}\hat{v}_0(\xi)$. If the matrix $A(\xi)$ has only eigenvalues with negative real parts, then Schwarz data will lead to Schwarz solutions, and lead to non-uniqueness of the solutions. This is sort of the explicit version of the Hille-Yoshida type theorems.