Nah, there's no need to ask me. Vile said to post it right here. Anyway it really depends on how much work is to be done on the model and when the release window is. I dunno if Vile's gonna be making his own animations or not.
I would say that using the taunts to change your power is not as good as using a Down+B because you can only taunt on the ground, it requires you to be facing certain directions to get certain powers and so would be cumbersome, it requires you to take your hand off the analogue stick, MegaMan could otherwise have some cool taunts (my idea for one of his taunts was to toggle his helmet, which is why my model had hair), and sacrificing Down+B is good for balance because opening up a new set of powers usually comes at the cost of that move (Pokemon Trainer, Zelda/Sheik).
I was planning on Rush being an important element to MegaMan. His Up+B was Rush Spring while on the ground and some kind of other aid (like Rush Jet) while in the air. In the air, I was thinking "Item 1" or "Item 3" from MegaMan 2. It'd recover his jumps, but not his Up+B. This'd be balanced by the fact that it's not actually an attack, and Up+B usually is an attack with good priority for recovery. Rush would shoot down from the air and set down in front of MegaMan, waiting for him to jump on it. While this means there's a delay on his Up+B, the fact that Rush is doing the action means there's very little startup or cooldown time and you can set up moves and combos ahead of time because Rush will wait for a few seconds. Another thing to consider is that other players can also use Rush until he disappears. Rush was also going to be used in his Final Smash, which I was thinking of being Rush Jet Armor from MegaMan 6 and 7. It'd give him the ability to fire homing fists (1 out at once and still be able to use the buster, or 2 out at once and being unable to use the buster) with Side+B in addition to his regular charged buster shots, extra unflinching on his moves, and of course the ability to fly for a good deal of time and extra speed/power. Maybe his MegaBuster could auto-charge, too. I was thinking this move would last quite a while, however unlike all other transformations, it would still be possible to attack and kill him like this.
Of course, MegaMan's neutral B would be his buster, which would be like Fox's blaster except it can be used while moving and its shots would be slower. And of course it could charge up. For balance purposes, it'd probably be good to only let him charge while holding still like other charge moves in Smash (except while in Rush Jet Armor mode, of course). His Side+B would use his boss power that he has selected with Down+B. I think only a small amount of his color should change for having different boss powers selected to cut down on confusion in multiplayer; just his trim or something. Maybe his slide, although that'd make a fine running attack, too. Lots of his A moves can come from MvC/MvC2.
If you decide to go for something like this, I could help you model Rush and maybe Roll for his introductions/winning poses. They could also be trophies.
If not, it's cool. I've got a long list of stages and characters I want to do (and am working on right now). :-D