Pichu needs to be dropped, or SEVERELY changed. I believe you're wrong, Ultima Shadow, in him being stronger than Pikachu... I'd check if my GameCube worked, but I think the trophy specifically said the only thing he does better then Pikachu is run. Whic is all you'll be using him for since he's so useless. If he's going to be kept, he needs new and stronger moves, to be a tiny bit faster, and to not take so much effort to unlock.
Dr. Mario needs to be dropped, too. He's just a slower, tougher Mario... but the differences are so miniscule that no one cares...
Ganondorf's ok as is, but needs to be changed a little. He needs to be more different from Captain Falcon... His posture, his move formation, it's all too similar. In fact, all the clones should be changed to not be clones. Luigi is far enough from Mario now, but his VOICE. Those are Mario's sound clips in fast forward... Maybe SSBB will finally fix this.
Young Link and Link need to be a bit more different rather than simply dropping Young Link. Oh wait... maybe since Link is the TP link rather than the OoT Link... Maybe Young Link WILL be dropped... ;_;