ahaha, here's a fake box cover that someone did. maybe some clues to some new characters?
And here's something from IGN
The official sequel to GameCube's top-seller got off to an admittedly slow start when it was announced at May 2005's Electronics Entertainment Expo, according to director Masahiro Sakurai. The videogame veteran, who birthed the series and oversaw the GCN sequel, was in the audience for the announcement, but only found out about the game that day; he was later that week asked by Nintendo president Satoru Iwata to head the project up. Despite a clunky beginning, Sakurai wasted no time to get moving on the anticipated Revolution fighter. The director revealed last year that he had enlisted the services of a major company to help with the development of the title and that a new Tokyo office was being formed to accommodate a staff of 50-plus people, including Smash Bros. veterans.
Super Smash Bros. Online for Revolution is expected to remain true to its predecessor and simultaneously bring a number of innovations to the table. The title will feature both more fighting characters than ever before and confirmed Wi-Fi play over Nintendo Wi-Fi Connection. The big question is, how will it use Revolution's free-hand style controller, which has not yet proven to be a fighter-friendly device?
In the past, Nintendo producers like Shigeru Miyamoto have speculated about the prospect of creating software featuring Mushroom Kingdom characters and mascots like Sonic the Hedgehog. If any game can do it, it'll be this one.
Nintendo has said Super Smash Bros. Online will be a Revolution launch title. We expect it to be fully playable at May's E3 show in Los Angeles.