Here is my roster:
Mario:
Mario
Luigi
Peach
Bowser
Waluigi: it seems logical to add him at this point. His moveset could be based on all the spinoff games. He could have a Mario Kart attack, similar to Wario's motorcycle. He could also have a baseball bat, tennis racket similar to peach's, and a move that somehow referenced Mario Party. Maybe his up B?
Rosalina: Rosalina is a very important character in Galaxy. Mario Galaxy 1 and 2 are two of the best games on the Wii, and are very important games in Mario's history. Rosalina is a logical add.
Paper Mario:
Paper Mario: Another original moveset, and a completley new playstyle is possible here. He'd be able to use his hammer and the Final Smash could be extremely creative.
WarioWare:
Wario
Yoshi:
Yoshi
Donkey Kong:
Donkey Kong
Diddy Kong
King K. Rool: he's one of the few long time Nintendo villains who has never made a Smash appearance. Chance for an original moveset as well.
Zelda:
Link
Zelda/Shiek
Ganondorf
Toon Link
Metroid:
Samus/Zero Suit Samus
Ridley: does this really need to be explained?
Kid Icarus:
Pit
Ice Climbers:
Ice Climbers
ROB:
ROB
Kirby:
Kirby
Meta Knight
King Dedede
Yarn Kirby: There is potential for a completley original and fun moveset here. Epic yarn was a wonderful game and should be represented.
Pikmin:
Olimar
Star Fox:
Fox
Falco
Wolf
Krystal: Along with Ridley, Brawl's biggest snub. Time to bring her in.
F-Zero:
Captain Falcon
Pokemon:
Pikachu
Red (Pokemon Trainer)
Lucario
Jigglypuff
Black: Another trainer that would play like Red. Gives the opportunity for three current gen Pokemon reps.
Fire Emblem:
Marth
Ike
3DS Fire Emblem rep: Ike and Marth are different enough to keep both. But with the new game coming out, and since Nintendo seems to use the Smash games to promote this series, it's likely that a character from the new game will be included.
Mother:
Ness
Lucas
Game and Watch:
Mr. Game and Watch
Fling Smash:
Zip: Zip would be one of the most unique characters in the game. As a brand new Nintendo franchise, Fling Smash could use the exposure. Zip could be unique in that he is slow on land, but the fastest aerial character in the game. He could have very powerful aerial smash attacks as well.
Chibi-Robo:
Chibi-Robo: It's time this franchise got some love. Chibi-Robo has two games out now, with a third rumored, yet it's still almost unheard of. Nintendo would do well to promote this character. Chibi-robo is an endearing character that is easy to like. He'd be very original.
Captain Rainbow:
Captain Rainbow: It seems he'd be perfect for a Smash game. He is a superhero in his own game, so he'd already have a decent moveset. Besides, Rainbow vs Falcon would be really funny.
Doki Doki Panic:
Imajin: This would just be epic. Doki Doki Panic is the game that became Super Mario Bros 2 here in the States, and Imajin is the character that became Mario. The game (and character as well, iirc) was created by Miyamoto. Without Doki Doki Panic, the Mario series would never have had shy guys, birdo, or anything else introduced in that game. Peach wouldn't be pulling turnips in Smash and the SSE may have a different name (the world you entered when you walked through all those doors in Mario 2 is called the Subspace). Imajin's game is a huge part of Nintendo history.
Wii Etc
Mii: I'm actually thinking of a pre-designed, generic Mii rather than one of your own Mii's on the console. It would have moves based on wii sports, wii fit, wii sports resort, wii play, etc.
3rd Party:
Sonic
Snake
Viewtiful Joe: no third party character would fit better. His moveset in Viewtiful Joe would fit seamlessly into Smash. His game won several GOTY awards as a GameCube exclusive and every single game he has been featured in, with the exception of Marvel vs Capcom 2, has been on a Nintendo platform (sometimes exclusively).
