How about the main hero from Secret of Mana? Though Nintendo would need permission, since it's a SquareSoft game, it would be pretty cool. Plus, there would be a lot the companies could choose from for his attacks. Here's what I could come up with.
B-Sword of Mana: Basic sword attack, kinda like Marth/Roy, can be charged, but maybe faster.
Smash B-Whip: longer range, moderate strength attack, which knocks the enemy away.
Down B-Blaze Wall: It's one of the girls magic attacks, it engulfs the enemy/enemies in flame, kinda like Lip's Stick in Melee, though it would last a little longer. To make it fair, you'd have to face an enemy to make it work.
Up B-Flammie Drum: Dragon quickly flies up, you hang on for a second to boost yourself up, and Flammie hurts all Enemies it touches.
He could use his weapons for the A attacks as well, like forward smash could use the Glove attack, down smash has the Sprite spin low with the Axe, and Up smash could use the Lance/spear.
He would be best as a middle wieght, I think, with average speed, maybe a little faster.
Personally, I don't want too many third person. I'm not a huge fan of the Metel Gear franchise, but Snake is fine in the game. Maybe Sonic, too, but other than that, I want some major Nintendo characters to have the spotlight.