Pit is decent, but in all honesty, Olimar is going to be one of the best characters once people work things out. His pikmen might be a bit unreliable, but his downward spike is an instant kill once you've got your oponent over the edge.
When I'm just messing around and have room to breath, I like using sonic. He's not a superb character, but he can be hard to hit and hard to predict. Plus his up+b is a little crazy and can be done mid attack, which is always cool.
I've heard a lot of people liking Ike. His "super armor," or whatever it is called can be extremely useful when you are being hit by a final smash, and it makes it a lot harder to kill him. Plus the counter move is extremely useful and makes up for his lack in speed.
Finally, surprisingly, Link is one of the best characters because of a small glitch like move that was used on me yesterday. Its possible, once you've managed to grab someone to keep them locked in the grab as you release them. For some reason, I couldn't move in the time it took him to let me go and pick me back up. Its a really cheap move, but its effective. Perhaps a faster character could get away, but its looking like a programming glitch. :(
