Might as well toss in my ideas. I haven't gotten time to check on who picked out what, but, quite some time ago I made a list of third-party "icons" that I think might fit.
I would think a classic 2D fighter character should get in. I'd imagine either Ryu or Terry Bogard would be most likely, but I kinda also want an SNK boss. People would surely crap their pants if Geese or Rugal showed up.
There are quite a few potential Capcom reps other than Ryu. Megaman surely. Arthur, Strider, Captain Commando... well, yeah, there's a lot to go with there.
I'd like to have a Belmont be in the next Smash - although I don't want to dump Snake. That would let me assume 2 third-party reps, each from a different key franchise, per third-party. (I personally am not a fan of thorwing in an excess amount of Sonic characters Thank You Very Much.) On the note of whatever Sega might have for a second third-party rep, I'd go with something retro and off-the-wall... like Alex Kidd. It'd be better than using anything they currently crap on.
A Dragon Quest character would make Brawl uber epic. I'd go with Loto/Edrick here, as I'd believe he toi be the most iconic non-Slime.
If there's a Square rep, I'd go with Moogle, who has enough of a balance of repping and actual fighting skill. Second choice would be Black MAge.
Stretching things a bit, I'd like Ryu Hayabusa. He'd work both as a tecmo rep and a rep for a 3D fighter (Dead or Alive) that would be a psuedo-"foil" for the 2D fighter person/s.
Hudson's probably already been discussed here. Heh.
After that the third-parties start getting a bit obscure. EA has no original IP that I consider Brawl-worthy yet. Ubisoft could use Rayman or the Prince of Persia. I'd like to see some more retro characters like Riki-Kunio or the Double Dragons but I don't know what ownership disputes they might have. Basically, third parrties start becoming more of a stretch after the ones I already mentioned.
Now, for first-party reps, I'd first go with characters who I thought should've been in Brawl in the first place. Namely:
- Takamaru (Nazo no Murasamejo)
- Little Mac (Punch-Out!!)
- Some Pro Wrestling character (Star Man would get confusing here, so I'd probably go with Fighter Hayabusa, King Slender or The Amazon.)
- Advance Wars character (Probably either Andy from the GBA series, or Will from Days of Ruin.)
- One more Metroid character (Even though the best pick became a Subspace boss, the Prime Hunters and an actual "Dark Samus/Metroid Prime" are fair game.)
- One more Fire Emblem character (although chances are it'd be Roy's return, more or less)
- Some more girls. People've request Lip from Panel De Pon, yes?
- Sukapon. (Joy Mech Fight)
- And maybe as a far stretch, the BS-X mascot. (Except he'd probably be a Link clone?... Damn..)