I would rather see Toon Link remade than taken out. I love Wind Waker, and honestly wish to spite all that say "lol bad graphics". Go play TLoZ for NES and say that again, in public.
Anyway, he needs to wield the Phantom Sword, Grapple Hook, Deku Leaf, Wind Waker, and Skull Hammer. Also, his game began TLoZ Parrying, so that needs to be implemented into his moveset.
Megaman would be cool, but they had better buff Samus. Seriously, nerfing the Charge Shot and Super Missiles? You suck, Sakurai. I also had a dream this morning that Sakurai made a new Adventure Mode but didn't make a multiplayer with it; but it had co-op. In it, after Samus used zAir, her Grapple Beam stayed on the ground behind her for a moment and if you pressed Grab during that time, it went extra far as a weak attack with no sweetspot. >.> How about buffing Screw Attack? It's supposed to be the be-all-end-all of Metroid, not crappy multihit. Give Super Missiles old knockback, Homing Missiles less accurate but more damage, and allow Charge Shot to kill at, like, 100%. I like her dTilt. It should stay like that. Maybe change fSmash to a strong burst of Plasma similar to ROB? I dunno.
But, yeah, Samus deserves better representation.