[COLLAPSE="Roster"]
I tried to weigh the significance of each series included against character uniqueness and my personal preferences.
Subtractions: Toon Link, Snake
Toon Link was removed because Zelda has such a rich character pool to draw from and having two versions of the same character with so many other interesting characters to pick from seems like a waste.
Snake has always been a puzzling addition to Brawl for me. He sticks out among the other characters and since I don't want to include more than a few third party characters, he got cut in favour of others.
Replacements: Impa (Sheik), Yarn Kirby (Kirby), Zoroark (Lucario)
Impa adopts Sheik's moveset with minor changes. The transform animation can be easily switched out for a "tag out" animation. I like the idea of updating the Zelda/Sheik combo and since Zelda will most likely be portrayed as her SS likeness, it makes sense to have Impa there as well.
I replaced Kirby with
Yarn Kirby, but this would be mostly an aesthetic change with maybe one or two new moves taken from Kirby's Epic Yarn. I would not change Kirby's name to Yarn Kirby either, so it really is just a glorified costume.
Zoroark could adopt Lucario's moveset with minor changes.
Additions: Geno, King K. Rool, Ghirahim, Skull Kid, Vaati, Midna, Porky, Ridley, Lyn, Robotnik, Palutena, Tom Nook, Isaac, Little Mac, Professor Layton, Crono, Mega Man
Geno is a character I have wanted in Smash for a long time just because he is unique and I would like to see what the devs could come up with for his move set. His inclusion raises the number of Mario reps to seven (say what you will, I still consider Wario and Yoshi as Mario reps).
King K. Rool is a no-brainer. Major villain from a major series, should have been in Brawl.
Now the four new Zelda characters - I know, four seems like a lot. Toon Link is not in the roster, so consider one of these characters as a sort of replacement Zelda rep. My justification for so many new Zelda characters is that Zelda is, as far as I can tell, just as popular as Mario among Nintendo fans AND it has a much more promising and larger list of characters to choose from. I think you could make a brawler with only Zelda characters and not run out of interesting additions, so raising the number of reps from four to seven matches Mario (again, Wario and Yoshi are Mario characters), which in my view is more than reasonable given the fanfare around these two franchises.
Okay, so,
Ghirahim is one of the most requested characters already and justifiably so. He has an interesting story and personality and he comes with an almost pre-built move set. A perfect candidate for Smash.
Skull Kid has appeared in multiple games, starred as a quasi-villain in MM, has the potential to add a truly unique fighting style to the roster and is beloved by many.
Vaati is another oft-requested character and another major villain. He would be the Four Swords representative and again has great potential in terms of move set.
Midna is the most complex companion character in the franchise, has a big fan following, is a magic user.
Porky provides a villain rep for Mother/Earthbound, appears with Ness and Lucas in those games and offers more variability compared to Ninten.
Ridley is another obvious one - major villain from major Nintendo franchise.
I have to admit, I'm not very familiar with the FE franchise, but
Lyn is a female character, which is a plus and had a lot of support during the lead up to Brawl's release. I would not be against replacing her with another FE character (Cellica?), but do think the series deserves another representative.
Robotnik's inclusion is of course dependent on Sonic being in the game. I want him in for the same reasons as Ridley and K. Rool.
Palutena has high potential for a unique play style, is more relevant after the release of Uprising and is a female character on top of that.
Animal Crossing deserves a character this time around and
Tom Nook is my preferred rep from the series. Villager is a little too generic for my tastes (same reason I don't support Mii). I'm willing to swap him out for another AC rep.
Isaac brings another series into the fold, is popular among fans and has promising magic attack possibilities. I think he's pretty cool.
Little Mac is the obligatory classic games representative.
I would really like to see
Professor Layton in the game. The stories and animation in his franchise are top-notch and puzzle games are underrepresented in Smash. The developers could really get creative designing his move set.
Square should have a rep and
Crono is a better fit than FF characters. His game was exclusive to a Nintendo system, he is more recognizable than any one FF character before FFVII, which was not on a Nintendo console. I'd be really interested in seeing an updated character design for him. Terra from FFVI and Moogle would be suitable replacements, but I'd much rather have Crono.
Mega Man is obviously a classic character. He has relatively new main series games (9 and 10) and his ability to mimic the powers of defeated opponents could be a really cool idea for Smash.[/COLLAPSE]