but the video commercial I saw said 12 old face plus new ones.

So that would mena more then 12 fighters should be in it.

+Disco Kid, Giga Mac, and maybe a secret final-boss boxer

13 (maybe 14) opponents and Giga Mac is the final count.

You're right, I found the press release last night (it's on GoNintendo, I don't feel like looking for it again) and it says 13 rounds or something like that and this list seems to match with it.

The only thing I'm disappointed about really, if this is true, is that you don't fight fighters again like in Mike Tyson's Punch-Out.

Mr. Sandman as the final match, that's weird. Super Macho Man was the one just before Mike Tyson in the NES game, he should have been the last fighter in this one.

Also, I'll miss Hoy Quarlow and Mad Clown (or maybe Title Defense Bear Hunger will be Mad Clown!).

crap! i was hoping there would be more characters than this...but i'm not too dissapointed..i'm still buying it day one, LOL i could never get past Mr.Sandman so nows my second chance
how reliable of a rumor is this?

I believe Mr. Sandman was the final fighter in the arcade version of Punchout.

Huh, i always thought they would introduce someone new for the final fight. Perhaps they will for title defense, idk.

I was expecting more fighters, not fewer.

Either there are hidden characters we don't know about or this game has just started down the road to disappointment.

I think people are missing the first blacked out sentence in the OP...