A quote from the SSBB tier article: "the presentation of a tier list creates a cycle in which players see the list, and choose only higher-tiered characters to compete with, which causes only those characters develop an advanced metagame, thereby reinforcing the high tiered characters' positions on the tier list"
Fast characters usually beat slower ones in 1 on 1 competitive battles, but this doesn't really affect regular battles or free for alls very much. For the most part, the characters are pretty balanced (moreso than any other fighting game I've played imo) and winning mostly depends on the skill level of the players
Ohh, cool. ^o^ I'm happy he isn't deemed a cheat.