The one concern, I have, regarding that, is that Ice Climbers and Wolf might be DLC (lmfao) because all of the returning veterans were last time, to my knowledge (outside of Dr. Mario). Beyond that, I was mostly referring to newcomers. There might be even more than ten. The least amount of newcomers we ever received was 12, in the original 64 game, and the number has only been climbing (albeit, I doubt we are going to get as many this time, clearly).
The Zelda character would almost have to be Ganon (or Toon Ganondorf), or a revisited Toon Zelda. I doubt they would add a third Link, but we should find out relatively shortly. None of that seems entirely likely. They usually represent Zelda with stages or assist trophies. Items. Anything but a character, really.
Beyond that, Elma is a stretch. Even if she were likely, if Sakurai confirmed her right now, it would not change that she is a nobody.
And that is, again, why I have no faith in the roster. I am more excited to see what they do with the veterans. If you are excited for that as a newcomer roster. Cool. I am glad, I enjoy all of those characters (and give blanket enthusiasm to any LoZ or Pokemon), in fact, but... I would just be more excited to see how they try to hype it up.
Ooh, look, it is that dog from animal crossing and that generic enemy from Kirby, oh, is that... the female Diddy? Hurry YouTubers, pour water on your heads and tweak your nipples! HYPE LEVELS OVER 9000!!11!1111!!