I'm already working on young link. I'm not that great at hand-painted stylized textures though, so the texture work, on top of being heavily wip, is very iffy. I plan on remodeling most of the other characters but I stole the model for young link from ssbm and re-uvmapped it.
I want to do a remake but I can't make any guarantees. I make 3d game art as a hobby so if I do, progress will probably be slow. However, an adventure game kit has been released for udk that provides an excellent starting platform for a game in the Unreal Engine.