I noticed that the Super Smash Blog had, at long last, been updated again, and so I checked out a few threads on the Smash World Forums that it directed me to. I came across this wonderful gem in Destruction_King's signature:
"Everytime you say Cloud, Sephiroth, or Master Chief should be in SSBB, the average intelligence of the human race drops by 1."
So true, especially in regards to Master Chief. Microsoft's star character appearing on a competing home console? I say no. Maybe he can appear on the DS, but certainly not on the Wii.
As some would say, kthxbai.