More Analyzing
The best character in each weight class is the fastest: Funky, Daisy, BDaisy/BLuigi; although BDaisy's got better MT so she's probably faster than BLuigi overall. All of these guys will catch anyone else in their weight class.
Then there's the people with minor speed boosts
L. Mii > Bpeach > toadette - Standing MT should trump Bpeach's accel advantage in anything except recovery from bananas and lightning, so L. Mii probably wins this one.
M. Mii > Peach > Luigi - Same reasoning as above
Rosa > Bowser = H. Mii - H Mii has the accel boost, but he doesn't really shoot past bowser (see below). Rosa has MT over both of them.
Everyone else with no speed boost: It's Accel + MT > MT > Accel > Neither. Like I said, standing MT should trump any accel bonuses outside of recovering from minor hits and spinouts.
For reference:
I bet no one cares, but the analysis is kinda fun
Unless you're playing to an extreme strength like Toadette on magikruiser, you'd best stick with Funky, Daisy, or BDaisy/Luigi. At the least, someone with a speed boost of some kind.
Now Light vs Medium vs Heavy in VS. races....not going into that now.