Since it hasn't been posted yet, decided I'd make mention of it. Hearing about it last year I thought it'd be a pretty garbage game. After seeing the first gameplay footage, it looks pretty amazing. Yes it's a Smash Bros clone, and now that that's out of the way, it looks damn good. According to the developer, there is going to be both first and third party characters.

http://www.gametrailers.com/episode/gametrailers-tv/152

http://www.youtube.com/watch?v=v1bQSw7FOUQ