My thoughts on Toon Link's reveal:
- Kind of disappointed that Toon Link is a semi-clone again. Granted, I expected it, but I would have appreciated more lugification, especially after the revamp we saw with Bowser and the new moves Pit has.
- Pretty much disconfirmed Classic Link: If Toon Link was going to get replaced by anyone, it would have been by Classic Link. I don't see us getting three Links this game.
- Bodes well for Lucario and Ike: One thing to take away from this is that a character won't be replaced/cut just because don't have a most recent appearance. Keep in mind that development for a A Link Between Two Worlds started in 2011, so Sakurai clearly must have known of Classic Link's return in time to decide whenever or not he would be in. Ultimately, Toon Link was chosen. This is good for Lucario and Ike because it means that they won't get replaced because they aren't from the most recent generation/most recent Lord.
- Also bodes well for Toad and Ridley: Toon Link's inclusion shows that Sakurai doesn't mind having a playable character also serve a non-playable role (unless Sakurai considered Spirit Track Link to be different). This means that even if Ridley is a stage hazard, he still has a chance of being playable (though that's not to say his chance wouldn't be hurt). It also helps Toad, even if I still feel his chances are low.
- Less possible cuts overall. Toon Link was one of six characters I considered to be possible cuts (along with Snake, Sonic, Lucario, Ike and Pokémon Trainer). With him in, this leaves us with only five possible cuts and even then, the only one I could see getting the axe is Snake (and for very good reasons).