Reason for not having both: Sakurai said he wants a trim roster for unique playstyles. Impa and Sheik fill the "Sheikah slot" on the roster, which has been a part of Smash since Melee. Let's say Sakurai is shooting for 40 characters. He might find the need to sacrifice the likes of Sheik for a more unique, independent LoZ character — and Impa would fill the void. That's five unique Zelda characters, with Link only appearing twice because: a) there is [could be] a huge difference, and b) Sakurai deems including two Links to be important. Now, I could see the Zelda roster panning out in a number of ways, but here are a few:
Dynamic Duos (6 reps)
—
Link
—
Toon Link
—
Zelda/Sheik
—
Ganondorf
—
Ghirahim
The Big Five (5 reps)
—Link
—Zelda
—Impa
—Toon Link
—Ganondorf
Good Guys & Ganny (6 reps)
—Link
—Zelda/Sheik
—Impa
—Toon Link
—Ganondorf
Skyward Waker (7 reps)
—Link
—Zelda
—Impa
or Ghirahim
—Ganondorf
—Toon Link
—Toon Zelda/Tetra
Classic Roster (5 reps)
—Link
—Zelda/Sheik
—Ganondorf
—Toon Link
- The Dynamic Duos roster adds a villain (in this case Ghirahim) to balance out the Courage/Wisdom/Power ratio through color coding.
- The Big Five roster sacrifices Sheik for Impa in an attempt to create a representationally balanced roster, pulling the most important characters from the series while staying within a trim five-character limit.
- The Good Guys & Ganny roster does what is being above and adds Impa as the only new Zelda rep, weighing the good against evil a bit.. unfair.
- The Skyward Waker roster goes overboard in an attempt to include the best representation for Skyward Sword & Wind Waker HD. Link, Zelda, Impa and/or Ghirahim represent Skyward Sword, with Impa being the "Sheikah" rep and Ghirahim the new villain. Ganondorf, Toon Link, and Toon Zelda/Tetra represent Wind Waker HD. Toon Zelda/Tetra retain the Zelda transformation gimmick, freeing up real Zelda to be standalone, and also allotting room for Impa's inclusion (unless Ghirahim nabs her slot). 3 & 3 (4) reps for Skyward Sword & Wind Waker HD.
- The Classic Roster changes nothing but the appearances and playstyles of these characters. Without altering the lineup, Sakurai can make a wide array of adjustments to the way these folks play. Ideally: Link, Zelda, and Sheik will be based on their Skyward Sword appearances (with Sheik borrowing from Impa's wardrobe), while Ganondorf and Toon Link would look as they do in Wind Waker HD.
Of course, there are bountiful more arrangements of characters from the series. I just didn't want to get into affairs with Tingle, Vaati, and all the other lesser folk. As of
now,
Skyward Sword & Wind Waker HD will be the most recent Zelda games as of Smash 4's development and release (a new 3DS Zelda could sneak by). To reiterate—If Sakurai is basing the Zelda characters' appearances on these games, then:
- Link, Zelda, Impa, and Ghirahim will be based on their Skyward Sword appearances.
- Toon Link, Ganondorf, and Toon Zelda/Tetra will be based on their Wind Waker HD appearances.
- Sheik will have to be invented...
Edit: To follow up that last sentiment, inventing appearances for characters in Smash Bros. is not a bad thing at all. Having "Smash" appearances outside of their respective series is treat unto itself. However, series like Zelda are consistent enough that their representatives in Smash Bros. should borrow from what's available, while a series like Star Fox is aching to stay alive so Smash has more "freedom" to do with those characters what it pleases. This may be a moot argument, but what I'm trying to get at is — while it would be awesome to see original appearances for the Zelda characters in Smash, odds are Sakurai will base them on their likenesses from recent games in the series and thus, inventing a look for a character (Sheik) might stand out too much. Plus, if Sheik wore Impa's clothes, it would be a slap to Impa fans, while Impa's replacement of Sheik would not hurt so much (as Toon Link replaced Young Link, it was simply a matter of catching up with the times).