What I don't get is... why do people think bans have to be absolute?
Seriously. Before you read my statement, keep in mind that, although I voted Pro-Ban, I'm not absolutely for it. To read why I voted on Pro-Ban, please keep on reading.
Now, let's look what we have on facts:
Meta Knight is dominating the (American) tournament scene by far. He has more victories and top placements than all other characters in the Top Tier together. He has no extremely bad matchups except for Snake - and even that one is debatable and debated all over the place -, no extremely bad stage performances. He's really good.
If you want to play a tournament to seriously win, you probably will be bound to make a Snake or a MK (or even both) tourney-fit, so you have even a slight chance because there WILL be at least one MK.
During this thread I've read of several hosters and players that tourneys without MK were so much more fun and better. I don't know if that holds true, but I trust them.
Therefore... how about a temporary ban? Let's look how the whole tournament scene will turn out if Meta Knight is banned. Let's finish this first year of Brawl, maybe by then there'll be a Tier List 2.0. Around May or June we could start trying out the ban for MK, for, let's say 10 months or so.
Then look how the whole scene changes. Are tournaments more enjoyable according to hosters and players? What will happen with the character placements - will they move a lot or only slightly?
If it turns out that MK's absence doesn't change much, we still can bring him back. It's not like he'll be removed from the game.
If it turns out that MK's absence benefits the tourney scene, makes the game more fun for everyone to play competitively and all that jazz, then we'll keep him banned.
Easy, no?