I know this will never happen for all sorts of reasons, but let's have a bit of fun here and just imagine, what if; Master Chief was in Brawl!!
Why would Nintendo agree? Master Chief vs Mario (vs Sonic) would get mainstream press coverage money couldn't buy. MC alone would also likely add 1 million+ sales in NA.
Why would Microsoft? Street credit in Japan! Halo in Brawl could boost Halo 3 (and 360) sales and recognition in Japan, and to a lesser degree Europe. It'd only boost Brawls sales in NA.
If this did happen, what effect would it have? To sales? Hype? Sony?
And guys (and girls) this is just for fun, so don't take it too seriously.