When I first saw all these rumors and Twitter posts, I felt noxious at the idea of Reggie being a considerable possibility. I think some of you may scantly remember an 'anti-character thread' I made about him some time back. But after some deductive reasoning, this Reggie rumor appears to be false.
Exhibit A: Reggie makes a joke about his Final Smash being "My Body Is Ready Slam". No indications, hastags, or links pertaining to Super Smash Bros. for Wii U/3DS, Sora Ltd., or Masahiro Sakurai.
Exhibit B: Holly Bowen claims that Reggie said Sakurai may considerably add him if the petition for his inclusion gets 100,000 signatures. Holly Bowen may just be paraphrasing things he said in an interview in a way that makes Reggie's 'joke' appear more literal. From her Twitter to her Linkedin page, there are no job titles or listings associated with any of Nintendo's businesses. In later posts after the post detailed above, her wording remains ambiguous, mentioning Reggie "not being serious when he said that."
Exhibit C: Masahiro Sakurai has no word on this matter.
This really all just seems like a publicity stunt to hype people up for VGX. If anything Smash related is shown, we're going to get one or more newcomers from a hardcore franchise. Besides, Reggie vying to get a shameless plug for his cult of personali-meme in a video games is an idea that disgusts me, as funny as it is. We're talking about the guy who's partially responsible for Nintendo's business shortcomings here!