Mario Luigi Peach Yoshi Bowser Samus Zero Suit Samus Donkey Kong Pikachu Kirby King Dedede Meta Knight Wario Link Zelda/Sheik Ganondorf Pit Jigglypuff Ness Captain Falcon Fox Falco Marth R.O.B. Olimar Lucas Sonic Ice Climbers Wolf Diddy Kong Mr. Game & Watch
Cut: Lucario Pokemon Trainer (old) Ike Snake (questionable) Toon Link
Bowser Jr. Rosalina
The Legend of Zelda:
Classic Link (Link from A Link to the Past with weapons from that game, and maybe some from A Link Between Worlds) Demise Ghirahim
MB (may cause controversy) Anthony Higgs (lol, again, may cause controversy)
Magolor (Sakurai wants him as a recurring character)
Palutena Magnus *Dark Pit will be an alternate costume for Pit, but his Uprising weapons will be different, but will deal the same damage. Also, his voice will be Dark Pit's*
Awakened Mewtwo New Pokemon Trainer (with Starters from X/Y)
Samurai Goroh Black Shadow
King K. Rool Dixie Kong
Chrom Lucina Anna
Wii Fit Trainer Sukapon Captain Rainbow Shulk Saki (Sin & Punishment) Muddy Mole Ray 01 Little Mac
Pac-Man Mega Man Simon Belmont
It's big and ridiculous as hell, but a guy can dream, right?
"I love going on message boards and complaining about games I've never played!" - Francis, Super Paper Mario
You get no points for laying out a situation where the roster has the potential to be absurdly large yet you still cut perfectly fine characters and replace them with fringe supporting cast members.
Why keep Toon Link? I can kind of understand Ike and Snake. Lucario probably won't make it anyway.
Because of all possible Nintendo characters, Link is one of the few with an alternate form that is actually different/popular/memorable/iconic enough to deserve another spot on the roster. Toon Link plays very different from Link in that his proportions, size, and speed are more different than any character and their clone in the series. Not only that,but when it comes to adding characters that bring something unique to the table, it's not only about their special attacks. It is also about how the character feels and how they contrast with other characters. Toon Link is visually unique and represents a huge part of the Zelda series.Young Link was a clone in melee, and this was carried over to Toon Link in brawl because there are people who prefer the faster smaller Link. The "no clone" mentality is simple minded.
But honestly, that is the least of the problems of your list. I mean, you added Ghirahim and Demise lol...