It depends really. I honestly think it's more likely that we get an HD port with upscaled textures and maybe some bug fixes as opposed to a full on revamp a la Windwaker. Assuming I'm right and we only get a port, I don't think we'll see any balance changes. However, I personally think if we do get a full fledged revamp of the game that we'll get a rebalance with it. And if we don't get a full on rebalance, then we'll definitely be getting the PAL version, and not the NTSC one. It'd obviously be really great of Nintendo to give us a way to switch between the two, but I really don't see that happening.
And on the topic of a potential Melee HD, what do you guys think as far as what can and cannot be changed as far as other things go? At what point do we draw the line in the way of alterations? What if they used brand new models for everyone? What if they reworked the entire game's aesthetic to match up with Sm4sh's style? What if they decided to ditch the older character designs they used in Melee in favor of ones reflecting each character's most recent appearance? What if they gave Fox his Sm4sh voice actor instead of the original Melee voice? What if they did that to every character? Will there be cries of sacrilege because this isn't 1:1 the game that we all love? I'm not trying to be pessimistic here, but this is a very slippery slope, people. I want to be able to play the game that brought us all together in glorious 1080p 60fps just like all of you do, but are we as a community ready to unanimously accept any and all changes in the transition from the original to a revamp?