Having come back simply to comment upon the ideas of others it would probably make more sense to use the quote feature. However being new to the escapist I'm unsure how many different things I can quote and whether I can quote from two different pages so I'll just comment as best as I can.
In response to Marginal's replacement of She-Hulk with Rogue (or Psylocke), X-23 with Gambit, Chris with Guile, and Akuma with Blanka - The problem there is now you're over representing the X-men and Street Fighter series, something which should really be limited to three characters per a franchise (or would you call it a segment of a franchise?). As for Blanka replacing Akuma, while that would be interesting (and make my little brother happy), Capcom would only have one villain on their side.
In response to Suilenroc for pointing out the obvious reason why both Ryu and Ken are not in the game - Thank you!
In response to FalloutJack's replacement all the darkstalkers characters and Tron Bonne for Megaman X, Sigma, Dr. Wily, and Vergil as well as the replacement of M.O.D.O.K. and Taskmaster for The Punisher and Sabertooth - Your reasons for ousting the characters are petty. I don't like Felicia but I have no suitable reason other than that dislike to remove her so I don't, just grudgingly accept her as a character. Furthermore you've not only just removed any representation of the Darkstalker series but you're slightly over representing the Megaman series with four characters (as the game is designed for teams of three having three characters per franchise at most just seem more logical). Also M.O.D.O.K. and Taskmaster bring some unique styles of game play (and they both look awesome) to the game while Punisher would be just another gun fighter (there are already quite a few) and Sabertooth would mean that there would be seven characters representing the X-men series. That's just ridiculous.
In response to 2xDouble for his style of post - You show favourability but manage to balance it by accepting that this would mean too many of one franchise or not having a suitable replacement. For that I tip my hat at you, thank you for the logical reasoning.
In response to Warty Bliggens joke - I understood it and you're right, the original design of Jill Valentine would be much better to see than the current one. It just fit's better in my opinion to have Jill Valentine as a gun fighter (then comes the risk of her being a weaker, faster version of Chris but I'm sure the series has enough variety of weapons and tactics to make an original play style).
In response to Fallen-Angel Risen-Devil's replacement of Spencer with Chuck Green (or Frank West), Trish with Ryu, and Taskmaster with Daredevil - Admittedly Spencer's play style doesn't look as interesting as they could have made it and Frank West does appear to be quite a fun character in Tatsunok0 vs. Capcom so I guess that would work. I can't think of an adequate reason to remove Trish but thank you, thank you for remembering the Breath of Fire series (I'm a huge fan of Breath of Fire IV) and Taskmaster being replaced by Daredevil is iffy as I can't think of any reason to remove Taskmaster but Daredevil is a good choice of character so I'm cool with it.
In response to Jonny49's replacement of She-Hulk with Daredevil (or Punisher), and Taskmaster with Moon Knight - I can't think of any sufficient reason for replacing She-Hulk and Taskmaster but the choices of Daredevil and Moon Knight are sufficient ones. There not hugely popular so their appearance would bring them recognition and you could develop some unique and balanced game styles. My disapproval of Punisher has been made clear but once again I think he'd be a bit bland really (no offence to fans). He just isn't likely to have as interesting or original of a fighting style as the other choices.
In response to Mr. Omega's post - My brain has just melted from happiness. Your post is brilliant, it considers the choices logically and it recognises Mega Man as the face of Capcom. You consider what would be good and what why the characters are in the game in the first place. The one thing you failed to indicate is that removing Akuma leaves only one villain on the Capcom side and that would be a bit disappointing.
In response to Asuka Soryu's replacement of M.O.D.O.K. with Gambit, Chun-li for Juri, and She-Hulf for Rogue - You didn't give any reasons and I don't know who Juri is. Considering the game play style M.O.D.O.K. brings to the mix I don't see why you would remove him and your removal choices send the already overrepresented X-men franchise to eight characters. Once again that is just outrageous.
In response to mentalkiity789's opinion - You raise a good point and I have only one argument against it. Character choice is different in a crossover game as you have to balance the representation of each franchise. They have an equal amount of characters from Marvel and Capcom because they have to represent the two series as equals. It is this matter of balancing when replacing characters becomes an acceptable act so long as that removal creates a balance, for instance there are six X-men characters so replacing one of them is no big deal, they have several characters representing the series as it is (and in my opinion too many). Regardless I thank you raising a topical point and one we should all consider when we post on forums concerning character choices.
This would have been much easier if I quoted but as I said, I'm new and unfamiliar with how it all works. This will probably be a long post and I'm sorry for any inconvenience this post causes. Well feel free to comment upon my own comments (or comment upon my original comment).