Well, at least Waluigi is in it somehow.
I don't know though... They way they said "but..." after they said he wouldn't be in it gave me my suspicions, as tiny as they may be. Heck, a long time ago they gave us the Sonic-is-really-never-ever-going-to-be-in-the-game-because-he's-really-really-not-ever-going-to-be-there-so-stop-talking-about-him speech. Maybe he WILL be an alternate skin. After all, he technically wouldn't be "in" the game.
Whether he's in it or not, I predict a lot of myths about how to get him showing up. Not unlike that little passage on the Star Fox level of the original Super Smash Bros. Does anyone remember any myths about Melee?