Too lazy to look for my Top Characters I want to see in Smash 4 so I will write this new list.
1. Tiki (Fire Emblem)
Because a want a Manakete for Super Smash Bros.
2. Little Mac (PunchOut!!)
His appearance in Smash is long overdue.
3. Solid Snake (Metal Gear Solid)
I want to see him back.
4. Shulk (Xenoblade)
The Monado would be awesome to use in Smash.
5. Ridley (Metroid)
The series needs a villain and another character.
6. Palutena (Kid Icarus)
The series needs more characters. Plus the rumor is fueling everyones hype for this character.
7. Masked Link (Legend of Zelda: Majora's Mask)
Majora's Mask has been getting some attention recently (Mask in ALBW, Skull Kid Assist Trophy, ect.) and I would love to see Deku Link, Zora Link, and Goron Link as playable characters. Also the Final Smash would have to be Fierce Deity Link.
8. Avatar/My Unit/Robin (Fire Emblem: Awakening)
Like the Pokémon Trainer represents the trainers of Pokémon, Avatar represents the strategists of Fire Emblem. Plus the ability to use a Tome and a Sword would make for an interesting moveset. Also, maybe they will make Avatar both a male model and a female model like they did with the WiiFit Trainer.
9. Professor Layton
Because, why not.
10. Toon Zelda with either Tetra or Phantom Zelda (Legend of Zelda: Wind Waker or Spirit Tracks)
Tetra would be awesome but I would actually prefer Phantom Zelda, even though Spirit Tracks was not the most popular game. Toon Shiek is also an option but I would rather see a transformation that is unique to (and actually exists in) the Toon Zelda games.
11.Any Belmont (Castlevania)
Any Belmont would do but if Snake doesn't make it into Smash 4, Konami could throw this series into Smash.
To have a game with so many company faces like Mario, Sonic, and Mega Man, having Pac-Man in that group would be the coolest thing ever. Odds are up because Namco is helping develop Smash 4.
13. Something Dragon Quest/Warrior
This series need more Western recognition. Plus that might motivate Nintendo or Square Enix whoever is in charge of translations, to move the DQX westward boosting the sales of Wii U.
Will edit when more come to mind.
Your inclusion of Ridley and Shulk earns you a like. Palutena is alright too. And I'll agree with Little Mac despite my personal indifference towards him.
2. Miror B. Shulk
4. Hades (less likely than Palutena, Pittoo and Magnus, but hey...also, screenshot confirms Viridi won't be playable)
Uh...that's it for now. I would have included characters like N and Bowser Jr. if I thought they were at all likely, but right now they don't seem to have much of a chance. Hope I didn't forget anyone.
In Awakening I wanted a Manakete child so I had to wed a Manakete to get one. Now I realize that Nowi is probably the better one because she passes on better stats.
I might just be saying this because I'm currently playing this series and really getting into it, but with SMT IV being on the 3DS, the first two games being on the Famicom, and with a new crossover with Fire Emblem is on the way, we should definitely see a Shin Megami Temsei character. Probably Flynn, the protagonist in the latest one. His move set could be based around demon summons. With a few of the lesser demonic looking demons in Smash Bros, like the Fairy, or Chargin, or Baphomet for a stronger one. Maybe he can summon ridiculously powerful demons for his final smash like Asmodeus and Koga Saburo.