Yes, I agree with this. This shows in 64, Melee, and Brawl when it comes to characters and stages.
Super Smash Bros. 64 (NES, SNES, N64, GB, 1985 - 1998)
[COLLAPSE="SSB 64"]Mario = Super Mario World (SNES, 1990) and Super Mario 64 (N64, 1996)
Donkey Kong = Donkey Kong Country (SNES, 1994)
Link = The Legend of Zelda: A Link to the Past (SNES, 1991) and The Legend of Zelda: Ocarina of Time (N64, 1998)
Samus = Super Metroid (SNES, 1994)
Yoshi = Super Mario World 2: Yoshi's Island (SNES, 1995) and Yoshi's Story (N64, 1997)
Kirby = Kirby Super Star (SNES, 1996) and Kirby's Dream Land 3 (SNES, 1997)
Fox = Star Fox (SNES, 1993) and Star Fox 64 (N64, 1997)
Pikachu = Pokemon Red & Blue (GB, 1996) and Pokemon Yellow (GB, 1998)
Luigi = Super Mario World (SNES, 1990) and Super Mario All-Stars (SNES, 1993)
Captain Falcon = F-Zero (SNES, 1990) and F-Zero X (N64, 1998)
Ness = EarthBound (SNES, 1994)
Jigglypuff = Pokemon Red & Blue (GB, 1996)
Peach's Castle = Super Mario 64 (N64, 1996)
Kongo Jungle = Donkey Kong Country (SNES, 1994)
Hyrule Castle = The Legend of Zelda: A Link to the Past (SNES, 1991)
NOTE: SSB64 was developed at the same time as Zelda: OOT so it is likely Sakurai picked Hyrule Castle because it was an important location in Zelda: ALTTP but it is designed to resemble the OOT version
Planet Zebes = Super Metroid (SNES, 1994)
Yoshi's Island = Yoshi's Story (N64, 1997)
Dream Land = Kirby Super Star (SNES, 1997)
NOTE: Spring Breeze is a remake of Kirby's Dream Land (GB, 1992) in Kirby Super Star.
Sector Z = Star Fox 64 (N64, 1997)
Saffron City = Pokemon Red & Blue (GB, 1996)
Mushroom Kingdom = Super Mario Bros. (NES, 1985)
NOTE: This can be also advertisement for Super Mario Bros. Deluxe for the Game Boy Color in 1999.[/COLLAPSE]
Super Smash Bros. Melee (NES, N64, GB, GBA, 1985 - 2001)
[COLLAPSE="Melee"]Bowser = Super Mario 64 (N64, 1996) and Super Mario World: Super Mario Advance (GBA, 2001)
Peach = Super Mario 64 (N64, 1996) and Super Mario Advance (GBA, 2001)
Zelda / Sheik = The Legend of Zelda: Ocarina of Time (N64, 1998)
Ice Climbers = Ice Climber (NES, 1985)
NOTE: The Ice Climbers were added only to represent the NES era, not because they were relevant nor contemporary.
Marth = Fire Emblem: Mystery of the Emblem (SNES, 1994)
Mewtwo = Pokemon Red & Blue (GB, 1996)
Mr. Game & Watch = Game & Watch Gallery 3 (GB, 1999)
Dr. Mario = Dr. Mario 64 (N64, 2000)
Ganondorf = The Legend of Zelda: Ocarina of Time (N64, 1998)
Falco = Star Fox 64 (N64, 1997)
Young Link = The Legend of Zelda: Ocarina of Time (N64, 1998) and The Legend of Zelda: Majora's Mask (N64, 2000)
Pichu = Pokemon Gold & Silver (1999)
Roy = Fire Emblem: Sword of Seals (GBA, 2002)
NOTE: Roy was likely added to advertise his game.
Icicle Mountain = Ice Climber (NES, 1985)
Princess Peach's Castle = Super Mario 64 (N64, 1996)
Kongo Jungle = Donkey Kong Country (SNES, 1994)
Great Bay = The Legend of Zelda: Majora's Mask (N64, 2000)
Yoshi's Story = Yoshi's Story (N64, 1997)
Fountain of Dreams = Kirby's Adventure (NES, 1993)
NOTE: This can be also advertisement for Kirby: Nightmare in Dream Land for the Game Boy Advance in 2002.
Corneria = Star Fox 64 (N64, 1997)
Rainbow Cruise = Super Mario 64 (N64, 1996)
Jungle Japes = Donkey Kong 64 (N64, 1999)
Temple = Zelda II: The Adventure of Link (NES, 1988)
NOTE: It is likely they named it "Temple" instead of "Palace" is to capitalize on the success of Zelda: OOT where the dungeons are called "temples".
Yoshi's Island = Super Mario World: Super Mario Advance 2 (GBA, 2001)
Green Greens = Kirby's Star Stacker (GB, 1997)
Venom = Star Fox 64 (N64, 1997)
Brinstar = Super Metroid (SNES, 1994)
Onett = EarthBound (SNES, 1994)
Mute City = F-Zero X (N64, 1998)
Pokemon Stadium = Pokemon Stadium (N64, 1999)
Kingdom = Super Mario Bros. Deluxe (GB, 1999)
Flat Zone = Game & Watch Gallery 3 (GB, 1999)
Brinstar Depths = Super Metroid (SNES, 1994)
Fourside = EarthBound (SNES, 1994)
Big Blue = F-Zero X (N64, 1998)
Poke Floats = made-up but showcases old and new Pokemon from Pokemon Gold & Silver (GB, 1999)
Kingdom II = Super Mario Advance (GBA, 2001)[/COLLAPSE]
Super Smash Bros. Brawl (N64, GBA, GCN, DS, Wii VC, 2001 - 2007)
[COLLAPSE="Brawl"]Meta Knight = Kirby & the Amazing Mirror (GBA, 2004)
Pit = Kid Icarus (GBA, 2004 and Wii VC, 2007)
Zero Suit Samus = Metroid: Zero Mission (GBA, 2004)
Wario = WarioWare, Inc.: Mega Microgame$! (GBA, 2003) and Super Mario 64 DS (DS, 2004)
Snake = Metal Gear Solid: The Twin Snakes (GCN, 2004)
Ike = Fire Emblem: Path of Radiance (GCN, 2005)
Pokemon Trainer = Pokemon FireRed & LeafGreen (GCN, 2004)
Diddy Kong = Donkey Kong Country (GBA, 2003) and Donkey Kong Country 2 (GBA, 2004)
Lucas = Mother 3 (GBA, 2006)
Sonic = Mario & Sonic at the Olympic Games (Wii, 2007)
King Dedede = Kirby: Nightmare in Dream Land (GBA, 2002)
Olimar = Pikmin 2 (GCN, 2004)
Lucario = Pokemon Diamond & Pearl (DS, 2006)
R.O.B. = Mario Kart DS (DS, 2005)
Toon Link = The Legend of Zelda: The Wind Waker (GCN, 2002)
Wolf = Star Fox Command (DS, 2006) and Star Fox 64 (Wii VC, 2007)
Delfino Plaza = Super Mario Sunshine (GCN, 2002)
Mushroomy Kingdom = Super Mario Bros. (GBA, 2004 and Wii VC, 2006)
Mario Circuit = Mario Kart DS (DS, 2005)
Rumble Falls = Donkey Kong: Jungle Beat (GCN, 2002)
Bridge of Eldin = The Legend of Zelda: Twilight Princess (GCN, 2006)
Norfair = Metroid: Zero Mission (GBA, 2004)
Frigate Orpheon = Metroid Prime (GCN, 2002)
Yoshi's Island = Yoshi's Island DS (DS, 2006)
Halberd = Kirby: Squeak Squad (DS, 2006)
Lylat Cruise = Star Fox Command (DS, 2006)
Pokemon Stadium 2 = Pokemon Stadium 2 (N64, 2001)
Port Town Aero Dive = F-Zero GX (GCN, 2003)
Castle Siege = Fire Emblem: Path of Radiance (GCN, 2005)
WarioWare, Inc. = WarioWare, Inc.: Mega Microgame$! (GBA, 2003)
Distant Planet = Pikmin 2 (GCN, 2004)
Smashville = Animal Crossing: Wild World (DS, 2005)
New Pork City = Mother 3 (GBA, 2006)
Summit = Ice Climber (GBA, 2004 and Wii VC, 2007)
Skyworld = Kid Icarus (GBA, 2004 and Wii VC, 2007)
PictoChat = PictoChat (DS, 2004)
Shadow Moses Island = Metal Gear Solid: The Twin Snakes (GCN, 2004)
Luigi's Mansion = Luigi's Mansion (GCN, 2001)
Pirate Ship = The Legend of Zelda: The Wind Waker (GCN, 2002)
Spear Pillar = Pokemon Diamond & Pearl (DS, 2006)
75m = Donkey Kong (GBA, 2004 and Wii VC, 2006)
Mario Bros. = Mario Bros. (GBA, 2004 and Wii VC, 2006)
Flat Zone 2 = Game & Watch Gallery 4 (GBA, 2002)
Hanenbow = Electroplankton (DS, 2005)
Green Hill Zone = Sonic the Hedgehog (Wii VC, 2006)[/COLLAPSE]
Super Smash Bros. 4 (DS, Wii, 3DS, Wii U, Wii VC, 3DS VC, WiiWare, DSiWare, 2008 - 2011?)