Shovel Knight definitely would fit that role well and he's a character that would easily fit in SSB. In both Moveset an Design (does have that Look).

But overall there are too many characters that we dont even have before outside characters (third parties) that should well be in the game. The third party characters now are perfect given the reasons Spemanig said. Even Banjo Kazooie as the 4th Third Party character is they wanted to add another one would be good, but the point like previously mentioned is too many characters are missing and represent Nintendo.

Before a Shovel Knight, Viewtiful Joe, Bayonetta, etc we should have 50+ nintendo characters in, including missing veterans like Ice Climbers/Wolf..... (im not going to name 50+, i'll do just 5 maybe more later...)

~Isaac (Golden Sun): A representative of Nintendo's GBA/DS GS franchise. A highly requested character with a potential moveset, And we need 1 representative of this franchise. 

~Takamaru (Ninja Castle): A retro japanese character. An Assist Trophy now but was actually considered to be playable in SSB4. And a representative of Ninja Castle Franchise.

~Inkling (Splatoon): New characters, but highly requested, unique, and will represent a massive franchise (i hope it'll be). 

~King K Rool (Donkey Kong Country): DK having 2 reps, with probably the most requested villain for SSB outside of Ridley just makes sense. 

~Dillon (Western Roll): Want a Indie Rep? Here you go, Nintendo's own Indie Game Character. Easily adapt a moveset, has 2 games, represents Western Roll and Indies from Nintendo, is an Assist Trophy so is in its own right popular :)

I could do this all day.... :0

I agree, It would be sad. Im so glad you mentioned Sin+Punishment. Such an underrated franchise, Saki is in my top 5 most wanted list for SSB. He was in my top 5 most wanted list pre SSB4 announcement as well.

Just to put my top 5 biased most wanted it be...

(no order)

~Saki

~Bandana Dee

~Geno

~Dillon

oh actually 5th is tough choice lol. Well my top 4 :p

Star succesor especially is great

Unfortunately I don't see high chances for Saki to be added this smash, already being an assist trophy. Maybe next time tough. 

Good list btw!

Damn Tbone, we agreed on something again. It's becoming a trend, it's happened twice now!

It needs to be Toad. Shovel Knight isn't even exclusive to Nintendo anymore. I'd have no issue if it happened, but I'd be disappointed if they neglected their own franchises to do this.

Your right, Saki being an assist trophy doesn't help. So sad back in Apr when announced as a Assist Trophy, i hope he's in SSB5.

Just remembered that Magnus from Kid Icarus Uprising would be my #5 pick!

Im going to make another thread soon, about unexpected characters that could be in the game (of course Nintendo characters

Such a rare occurrence!!!

Oh your right on that, As for Toad... I think Captain Toad is much more likely now imo. Captain Toad has its own spin off franchise and was in a major 1st party game with his own unique levels.

Potential moveset being power ups and of course things from Captain Toad. (like the dig axe for side smash?)

I'm not surprised, i mean, Its basically free advertisement for their game, anyone would want that! :P

But I'm glad to hear that Yacht Club doesn't mind Nintendo to use their IP in Smash

Agreed, I'd rather see someone like Bayonetta or an already established Ninty character than an indie one that's not really exclusive to Nintendo, all it looks like to me is just a free marketing campaign for their game in the hopes that SK will sell more on Wii U/3DS because he happens to be in their game, apart from that I really don't see any other reason, Beyonetta would likely benefit more than SK.