Alright, I'm going to make a basic tier list, and we can debate where each character goes. Instead of it being based on tournaments, its based on how good (or balanced) the character is, in general. While there may be a lot of controversy, hopefully we'll settle on something.
If this isn't in the right section, then please move it.
Well, this is how I picture it:
Top
Marth
Toon Link
Sheik
Captain Falcon
Falco
Lucario
High
Fox
Wolf
Sonic
Luigi
Zelda
Zero Suit Samus
Bowser
Pit (Probably should be lower)
Link
Ganondorf
Jigglypuff *
Middle
Peach * (No idea)
Ike
Mario
Pokemon Trainer *
Samus
Snake
Olimar * (Honestly, I have no idea)
Ness*
Lucas*
Ganondorf *
Low
Yoshi
Ice Climbers
Kirby
Pikachu
Mr. Game & Watch
Meta Knight *
Diddy Kong *
Donkey Kong
Wario
ROB
King Dedede
If I wasn't really sure, I put a * next to it.
Note: Even though there aren't any numbers, they are still in order.