Just got back from a tourney held at my school. Apparently the largest in the area. A few big smashers are participating including Mew2King, D1 and PB&J.
The stream's at here
http://www.twitch.tv/pastimelegends
i didn't participate though. I spent the most of the time playing smash 3DS playing all the new characters. M2K was actually playing some too with us between his matches. On the 3DS, he was losing to a kid at his first tournament
Some things I felt
Palutena's Up Smash is really powerful but her specials were pretty bad except against projectiles
Pac-Man is pretty decent with his side special being really nice
Bowser Jr. was okay.
Peach can spawn Bomb-ombs with Down B rarely. I like her side special not having start up any more and her new up air
I think I'll main Shulk with his long range and I was getting a hang of his Monado skills. His counter is really good.
Dedede was decent. A bit better than Brawl.
Greninja was pretty decent.
Megaman was kind of awkward without nonprojectile side attack except in the air. Otherwise pretty decent
Villager was pretty unique. Making a tree and using the axe is pretty effective
I feel Prism Tower, Arena Ferox, Unova Pokemon League and Find Mii could become counterpicks at least