Epic Fail
Your list couldn't possibly get any worse if it tried.... most of the newcomers aren't even from Nintendo.
Rename:
Super Smash Brothers: Legends
Veterans:
All current characters. (Why type them?)
Newcomers:
Erika And Ephraim (Fire Emblem series)
Ashnard (Fire Emblem: Path of Radiance)
The Black Knight (Fire Emblem: Path of Radiance)
Krystal (Star Fox)
Midna (human? and imp form: Legend of Zelda: The Twilight Princess)
Ridley (Metroid; only main character I could think of to add)
Scizzor/Scyther (Pok'emon)
Mewtwo (re-add and improve)
Blaziken (Poke'mon Ruby/Sapphire)
Shadow (Sonic series)
Knuckles (Sonic series)
Amy Rose (Sonic series)
Tails (Sonic Series)
And possibly:
The Prince (Prince of Persia)
Volke (Fire Emblem: Path of Radiance)
Sothe (Fire Emblem: PoR and Fire Emblem: the new one
)
Changes to current characters:
Ganondorf:
Change Wizard's Foot to B->
New B-down, Draw Sword- Draws Ganondorf's sword and performs the Mortal Draw (from Twilight Princess) technique, dealing 20% damage and moderate knockback (has 1.5 times the range of his forward tilt)
Mewtwo:
Make him less light and change his B-Down to Flash: For 10 seconds, foes cannot see you (Invisibility).
New character abilities (general):
Erika and Ephraim:
General Abilities-
Erika- Fastest Fire-Emblem character. Attacks with a rapier that has little lag but little knockback and less range than larger swords (such as Ike's). Good for racking up damage.
Ephraim- A powerful spear wielder (and brother of Erika). Attacks by stabbing with his spear (damage racking) or swinging the spear (knockback). Slower than Erika, but excellent for finishing off damaged foes.
Specials-
B, Critical Hit- Does more damage than the average sword attack but with increased starting lag.
B-Forward, Wind Blade (Erika) or Throw Javelin (Ephraim)- Attacks at range. These projectiles have high damage but half the range of arrows and cannot be spammed.
B-Up, Reserved Strength (Erika) or Spear Spin (Ephraim)- Reserved Strength creates a third jump with increased vertical range (good vertical recovery). If used on the ground, Erika cannot use any other jumps (unless hit) but is not left helpless, allowing aerials. Spear Spin causes Ephraim to twirl his spear over his head, decreasing fall time (and if you repeateadly hit B you get some Vertical Distance, similar to Squall Hammer). It is a great horizontal recovery and when used on the ground, works like Link's B-Up, but without charging and much lower knockback.
B-Down, Call Erika/Ephraim- Uses a trumpet to call the other sibling (changing characters).
Ashnard:
Ashnard is a slow character with great power. He is somewhat faster than The Black Knight but lacks his extreme heaviness. He sweetspots with the center of his sword and is between Marth and the Black Knight in most stats (including speed, power and weight). He uses a large sword to kill foes.
Specials-
B, Critical Hit- Does more damage than the average hit, but with more starting lag.
B-Forward, Quick Draw- same as Ike's quick draw but more devastating to foes it hits and has somewhat less range.
B-Up, Call dragon- Calls Ashnards mount. Can only go Vertical OR Horizontal (choosable by control stick direction), but goes as far as Ashnard wants (dismount by hitting B-Up again) in that direction.
B-Down, Insanity- Ashnard becomes (even more) insane, reducing the lag in his hits for 10 seconds. Ashnard loses the ability to use any defensive techniques (shield, sidestep, aerial dodge).
The Black Knight:
The Black Knight is a slow character (comparable to Ganon). His armor gives him extreme weight (can survive moderate-knockback hits in the 300% range) and his sword gives him range comparable to Ike. The Black Knight often has high finishing lag in his smashes but tilts are relatively fast.
B, Luna- Throws sword up in the air and swings downward with great knockback after catching it again. This attack is unique because you can move forward or back until it lands and the sword will change trajectory to reach you.
B- Forward, Warp Powder (forward)- Uses warp powder to warp forward (range of quick draw)
*Note- Stops in front of the next foe (auto-sweetspots ledge).
B-Up, Warp Powder (up)- Uses warp powder to warp upwards (great vertical range)
*Note-Auto-Sweetspots ledge.
B-Down, Counter- Returns the next hit to hit in the direction The Black Knight is facing (Same start-up time and damage/knockback increase as Ike's counter.)
Comparison to Ike:
Slower
Heavier
Better Recovery
Better Specials
More knockback and damage in ground moves.
Inferior aerial game due to higher weight.
Midna:
The Twilight Princess has powers rivaling Zelda's powers but with a touch of darkness. Midna is somewhat faster than her light-realm friend but has less powerful finishers. In imp form, Midna is very fast and has the ability to fly.
*Note, Midna's specials are shared beween both forms.
Specials-
B, Hand of Twilight- Midna's twilight hand slaps forward (dealing moderate knockback) and reflecting any projectile coming from that direction.
B-Forward, Burst of Twilight- Releases a controllable burst of twilight (stronger but slower than Din's Fire).
B-Up, Open Twilight Portal- Midna goes through a twilight portal and appears on the other side (similar to teleport).
B-Down, Fused Shadow- Uses the Fused Shadow to change form to Human-like appearance or Imp form.
Krystal-
Krystal is a well-rounded female character from the Starfox Series (who has a huge crush on Fox). Her stats are very similar to Falco, though her attacks are more focused around range than speed. Her specials are similar to that of the other Fox characters but have the ability to be controlled (missile launcher can be aimed, Krystal Dash has a controllable direction, Fire Fox (Krystal) can be tilted slightly while flying).
Specials:
B, Missile Launcher- Krystal kneels until B is released (allowing you to decide direction) and then fires a missile which flies straight in that direction.
B-Forward, Krystal Dash- Krystal Dashes forward in a split second (similar in function to the B-forwards of other Fox characters.)
B-Up, Fire Fox (Krystal)- (do I need to explain)
B-Down, Deflecter Shield- (again...)
Shadow-
Shadow is the dark counter-part to Sonic. He rivals sonic heavily but has higher priority attacks and less speed. Unlike Sonic, he lacks the ability to curl into a ball, choosing instead to use guns (Shadow the Hedgehog game).
Specials:
B, Machine Gun- Pulls out a machine gun that fires as long as the user repeatedly presses b (Shadow is made incapable of movement). Damage comparable to Fox's blaster.
B-Forward, Shadow Dash- Dashes forward (similar to Quick Draw, but with lower priority).
B-Up, Spring Jump- The same as Sonic's in effect.
B-Down, Shotgun- Shoots with a shotgun (aimable). Bullet is most effective at close range.
Those were just a few of them... I don't have time to make samples of the rest.