I don't think any characters from SSBB should be removed, just tweaked, and of course more additions.
I see so many people hating on Mr. Game & Watch. -_-
Some additions: Another Metroid rep, another F-Zero Rep too (Samurai Goroh makes the most sense). Waluigi!
Some characters from the NES would be awesome too. Like Alex from River City Ransom, the guy from Balloon Fight, and stuff like that. :D
Oh, how about a more consistent art style too? The Link felt out of place, art wise. Well, both of them. You can't make Mr. G&W consistent, that would mess him up, haha.