As I stated prior to this post, a lot of this is circumstantial evidence. None of it directly correlates to her chances in Smash; however, in a different thread, I read that Kid Icarus: Uprising was apparently intended to be a Star Fox game. That would indicate an interest in Sakurai's team to develop a Star Fox game thus refuting and negating the relevancy problems that the series currently suffers from. There is also that rumor (I don't necessarily think it is a rumor, I am fairly certain it was a quote, but nevertheless, I haven't seen it in any other context than hearsay) that Miyamoto is most interested in having a Star Fox title on the Wii U. Again, this makes the relevancy issues negligible as Sakurai would be one of the first to be made aware of the games development, if it ever happens.
I recall reading an article where Sakurai admits that he didn't realize that Krystal was a popular request. So you never know what that might entail (likely an assist trophy). I do not necessarily support her, but I wouldn't be surprised to see her, if that makes any sense. I feel as if her chances are severely under-rated, at the very least, she might be considered.