So, there are no major party Nintendo releases for any party level coming up in September. It appears that Sakurai is reinforcing the whole 'game release = game character rep' (that was worded poorly) with Pikmin & Olimar revealed in July for Pikmin 3 in Japan and most recently, Luigi for Mario & Luigi: Dream Team Bros. in Japan. I'm positive we'll see the exciting 4th newcomer this time around. September should be an interesting turnout to say the least.
My Predictions
Fire Emblem rep: This is the first of established franchises that have shown representation after game reveal. As soon as the E3 trailer was revealed, Arena Ferox from Fire Emblem: Awakening. Brawl seems to point at a tradition of bringing the latest lord in as a starter for the newest installment, in this case, Chrom. Marth would be plausible and his inclusion as a starter character seems to show demand because of how he is considered the series mascot. However, his reveal might disgruntle certain fans that Awakening doesn't get representation in the roster or they are saving someone for a secret. Robin, Lucina, and Ike are also considered to be contenders, but may have less priority than the previously mentioned two. Lucina has a huge standing in the Fire Emblem fanbase as well as being used to heavily promote FE:A-related merchandise and memorabilia. Although, she is too aesthetically similar to Marth in their most previous appearances and when stripped down to the linear progression of her starting class, she has just as much moveset potential as Chrom. Robin would be a brilliant addition, bringing magic and swords into the Smash series, as FE's other weapon classes have never been showcased in a Smash game before. There are concerns to his/her ambiguity, but this can easily be covered up with voice and costume alterations. Villager's appearance shows that customizable avatar characters can be considered. Ike appeared in Brawl, had an original moveset, a playstyle not seen from Marth or Roy, as well as representing Path of Radiance/Radiant Dawn. Whether he feels outdated from 'Flavor of the Installment' or whether he could work as a secret is a question that has no clear answer. He could still represent his main line of games as well as having relevance with FE:A DLC and popularity wrought from Brawl.
Kid Icarus rep: This is the second of established franchises that have shown representation after game reveal. Pit was the first Brawl veteran to the point where he was showcased for the initial trailer. Recently, a Kid Icarus: Uprising stage that many have speculated to be the Reset Bomb Factory, as well as Sakurai implying hints to it through descriptions. Kid Icarus: Uprising was released before the Smash reveal at E3, so like FE:A, a reveal around a recent release would make any character outprioritized. Palutena has gained almost universal appeal as she would have tons of moveset potential, increased effectiveness to the series with Uprising, as well as adding a female fighter. Magnus has a chance as well. Medusa and Hades have also been requested quite a lot, but there are concerns over retooling their characters and their size as shown in KI:U boss battles. However, Palutena has projected herself to gargantuan size like that many times before, so shrinking them down to Palutena's regular size would be a sinch. Not so sure if Hades would be as effective that shrunk though.
Retro franchise/recent franchise rep: With the two prioritized returning franchises out of the way, how about someone completely fresh like the 3 newcomers we have thus far? First up, Little Mac. He's been an Assist Trophy in Brawl, has been revived for a new installment on the Wii, has huge recognization and popularity especially in the West, and would bring a unique moveset revolving around boxing. Many people have said that the boxing/wrestling ring stage shown in the trailer pretty much confirms him. Keep in mind the stage doesn't represent Punch-Out! for all we know, but it would make a suitable homestage for him nonetheless. The Ice Climbers have been around since Melee, but there have been complications with the AI programming for dual characters as stated by Sakurai in one interview. But if Olimar can work even with what seems to be a gimped maximum of Pikmin, why can't the Ice Climbers? Other characters who could appear include, but are not limited to; Takamaru from Hajime no Ippo, Saki or Isa-Jo from Sin & Punishment, Isaac or Matthew from Golden Sun, and Shulk from Xenoblade Chronicles.
Wonder Red from The Wonderful 101: Amongst all the other series that have a good chance of getting a newcomer or getting in, there has been one game Nintendo has been heavily promoting; The Wonderful 101 from Platnium Games, developed by Hideki Kamiya. Wonder Red seems to be the lead of the game, and would no doubt bring a slew of unique moveset potential with the gimmick or combining heroes for ultimate attacks or just using those attacks regularly without a 'Pikmin'-esque gimmick. However, Sakurai would likely try to represent the nature of the game he originates from, so he might have to find a neat way to utilize this. Nonetheless, the characters in W101 have been shown to have their own dynamic attacks exclusive to each hero. Whether this could be used for standard moves or a Final Smash remains to be seen. Not sure whether to say his inclusion would be 2nd or 3rd party considering Platnium Games is an independent developer, but Nintendo is publishing W101 as well as Bayonetta 2.