Super Smash Bros. for Wii U and Super Smash Bros. for Nintendo 3DS

If you pause the trailer at 0.51 you can see someone green holding on to the platform. I could be Link but the hat looks more like Luigi's.

I just don't see Toon Link back as a playable character since he was show as a non playable character on the train stage. Wolf, Lucus and Rob are the characters that will be cut if they want to include more characters. Ike and Lucario were mostly in Brawl since the Wii Fire Emblem and Diamond and Pearl were recent games at the time. Plus I think Chrom and the new Mewtwo form will replace them. Lastly Snake will likely not be back since Mega Man, Sonic and maybe Pac-Man will likely be the only third party characters.
Also Shin Megami Tansei X Fire Emblem might come out before this game so they could show Marth there or just in a new trailer for Super Smash Brothers for Wii U and Nintendo 3DS,

Woah, you're right. The thing is, it doesn't look like anyone is playing as him, since he just stays put and keeps moving along with the platform hanging onto it.

Maybe that's a sign Luigi isn't playable in the game? Unless that isn't Luigi.

I also think this game will be out before Shin Megami Tensei X Fire Emblem.

I think Luigi will be playable since he has been in the other three games.
Here's the Kid Icarus stage.

This stage looks great for being on the 3DS.

He likely will.

Also, that Kid Icarus stage's background actually looks pretty awesome, I like it. But it looks a bit weird with the foreground.

It does look good for the 3DS.
I wonder if they will put this in the Wii U version,
Seems unlikely though.

I doubt it, as Sakurai said the stages would be different in Smash Bros. for 3DS than in the Wii U version. This is obviously based on Kid Icarus: Uprising, as that was a 3DS game.

Sakurai wrote:The biggest feature we look at in Smash Bros. is, ‘What does this character bring to Smash Bros. that other characters don’t?’ If you look at… someone from a fighting game already, and people like fighting with this character, from my point of view, it’s like ‘this guy does what this guy already does. He fills the role that this character already has. So while you may like this character and he’s interesting, that doesn’t really merge well, here.

Sakurai says that fighting characters will likely not be in Super Smash Bros. for Wii U or Super Smash Bros. for Nintendo 3DS, because they already fight in their specific game. I still think that fighting characters should be added to the game...

And Luma, I'm doubting that Takamaru will wind up being in the game.

Little Mac and Takamaru.
Good bye.
So much for that.

Yep, they're not going to be in the game, or at least it's highly unlikely that we'll see them make it in.

Also,

Masahiro Sakurai wrote:Unfortunately, the movie scenes we worked hard to create were uploaded onto the internet. You can only truly wow a player the first time he sees [a cutscene]. I felt if players saw the cutscenes outside of the game, they would no longer serve as rewards for playing the game, so I've decided against having them.

So even if we do have a single player adventure mode, the cutscenes will not be a part of it. So it won't have a story. I'm assuming this means that it'll be like the one in Melee? I really liked Melee's adventure mode, but it would need to be much longer if it's going to make this game.

I don't really know if I even want to get this game anymore, but I suppose not all that much info has even been announced just yet, so I shouldn't be saying that at this point.

But it seems even if there're no cutscenes then it'd still have the whole things that made the first two games fun, you don't really need cutscenes for a fighting game. It's kind of odd to turn down a game because of no cutscenes.

The lack of cutscenes doesn't bother me, I bet more modes might be included and the adventure mode will be more simpler compared to Brawl's. It's likely I'll get the game but I need to know some more about it, even if it looks a lot like Brawl too me.

No, that means that there isn't going to be a Subspace Emissary mode, Cubone, which was something many people liked about Brawl, and they're just removing it completely. Although, the new mode could be better, I just hate how Sakurai's reason for removing it is that people will post it on Youtube.

People are going to post it on Youtube anyway though...

Apparently there is a new effect in this game which shows which player earns points when both are KO'd. A screenshot is in the spoiler.

Spoiler:

I think that's a really nice idea, sometimes it's unclear who gets points since you don't pay attention to the bottom.

New Pilotwings Stage for Wii U Version:


It's based off of Lesson 7 from Pilotwings for the SNES.
I wonder now if they'll have a Pilotwings character playable...