TOP:
Snake (Obvious)
Meta Knight (Obvious)
Mr. Game & Watch (Powerful, good recovery, godlike priority, and he gives the finger)
Marth (Silly Sakurai, you never nerfed him)
Falco (An already good character with laser lock and chain grabs)
R.O.B (Disliked by some does not equal a bad character)
HIGH:
King Dedede (Kills at low percentages, heavy AND good recovery, chain grabs)
Captain Olimar (Olimar has loads of potential. Only thing preventing him from being a god is the god-awful recovery)
Toon Link (Fast, decent recovery, can rack up damage like crazy, but has trouble killing)
Wario (He's just crazy. Unpredicable, and great tourney results)
Pikachu (Definitely buffed. Similar to Melee Pika, but way better)
Ice Climbers (0-death combo, chain grabs, and Nana has a brain!)
Pit (Arrow spam, godlike recovery, racks up damage, has a terrible voice which distracts opponents)
Wolf (Recovery isn't good, but he's a beast. Literally
Donkey Kong (He's bigger, faster, and stronger than in Melee. Cookie for reference)
Kirby (An overall great character with amazing recovery, and a couple good KO moves)
MIDDLE:
Zelda (Light, but really powerful with KO moves. Uair, anyone?)
Lucario (Gets more dangerous as his damage level goes up, but a threat even at 0%)
Diddy Kong (Not as good as we initially thought, but still has facerape and bananas)
Fox (Good, but nothing compared to Melee Fox)
Lucas (Jimmy Neutron has evidently learned very strong psychic moves)
Luigi (Good KO moves, tons of recovery options for every situation, and an awesome taunt)
Zero Suit Samus (Fast, sneaky, and can distract perverted opponents)
Mario (An all-around, solid character. Not amazing or terrible)
Bowser (Powerful, but faster than expected of a giant turtle)
Ness (If Ness gets someone in the air, he will win)
Yoshi (Has the only wavedash in the game, can chain grab several high/top tier characters, and now has a third jump)
LOW:
Peach (Decent tourney results and great air game, but too **** easy to kill)
Pokemon Trainer (The Pokemon themselves would be mid, but the stamina thing kills Red and his Pokes)
Ike (Really, really strong, but slow, predictable, and punishable)
Sonic (Fast, but with slow attacks and terrible priority)
Shiek (Wow. Biggest nerf of all goes to Zelda's alter ego in OOT)
Link (The Hero of Time was, surprisingly, nerfed)
BOTTOM:
Samus (Another notable nerfing)
Ganondorf (Uber strong, but he can't outpace a dead snail)
Jigglypuff (Good air moves, but Rest sucks, and Jiggz is way too easy to kill)
Captian Falcon (A cross between Ganondorf and Sonic. Not a good thing)