I think they might do the series reveal thing with a few jumps to other random series (I mean Olimar being confirmed outta nowhere... :p). Expecting next few reveals to be Zelda series - which probably means Zelda and Ganon (or some other Ganon expy, possibly Demise...? nah) to round out the quartet.
Olimar was revealed in light of Pikmin 3. In fact, every character revealed has been representing a new game coming out. All except Peach, that is.
Now my prayers of having a Toon Zelda/Tetra character can still come true, which would make five Zelda characters (which, the Mario series did have six in Brawl: Luigi, Peach, Mario, Bowser, Wario, and Yoshi). Normal Zelda/Ganon will most likely be revealed in November and predicted since we got two characters revealed in one month, we won't get a new character in October.
I pray to Din, Nayru and Farore that there will be a Toon Zelda/Tetra character. If she were terrible, I'd use her anyway! I LOVE TOON ZELDA AND TETRA!