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While /v/ does the all-encompassing Smash 4 threads, let's talk about the Pokemon part.
So as of now, we have Pikachu and Lucario returning, Dedenna and Palkia as Pokeballs, Xerneas in an unknown capacity, and Lumiose City as the 3DS Pokemon stage. Seems like Gamefreak is forcing Sakurai to be really hush-hush about the Pokemon part of Smash, so let's speculate.
* Lucario's Mega-Evolution will be his Final Smash
* Mewtwo will most likely be returning with a heavily-revamped moveset and both of his Mega-Evolutions
* Jigglypuff will have one or two Fairy-type moves replacing her old Normal-type moves, most likely Play Rough replaces Pound.
* Pokemon Trainer will return with Squirtle, Ivysaur, and Charizard, but his Final Smash will now be whichever Pokemon is out goes to its Mega-Evolution for a little bit, and you can't switch during that time.
* The Wii-U will have a stage from Colosseum or XD.
