Quoting a Namco rep @ E3
 

"We're anticipating somewhere between 20 and 30 characters, of which about half of them will be entirely new characters and half will be returning"

Returning characters

He implied that some unspecified mystical force, perhaps the power of the Soul Edge itself, might have an effect on her ability to return her youthful looks—her father, Cervantes, after all, stopped aging completely at 48. Tago also hinted that a plot point in a previous Soulcalibur game might explain what sounds to be a still youthful-looking Ivy.

I would like grizzled old Kilik and Maxi to be characters, they're always fun to play with.

Voldo is supposed to ancient already, so I can't see twenty years making any difference to him either.

Hamburgler on PS3 and Ronald McDonald on 360.

They could not possibly leave Taki out. She is the poster-girl of this game.

They could not possibly leave Taki out. She is the poster-girl of this game.

@WinterSnowblind said:

@obcdexter said:

They could not possibly leave Taki out. She is the poster-girl of this game.

She's in her 40's now. I can definitely see them replacing her with a younger ninja character. Sophitia and Cassandra are pretty certainly gone too.

Late forties at that, given that she was already around 30 in Soul Calibur II-IV.

That being said, some video game characters have a stupefying level of vitality despite their age, so who knows? Also, Cassandra was shown in the E3 trailer.

I'd be kind of disappointed if there was no Taki, Kilik, Raphael or Maxi.

As long as Voldo and Nightmare are in it I'll be happy.  The rest eh, whatever. If I want to have a character look a specific way I'll use the character editor that should be much more fully featured this time, best part of sc4 for me.

@Hailinel: it wasn't Cassandra in the trailer but Pyrrha, one of Sophitia's children who happens to look alot like her.

EVERYONES SONS AND DAUGHTERS BECAUSE ITS A NEW AGE FEEL! WOOOOHOOO!!!!

@Ashuramaru said:

@Hailinel: it wasn't Cassandra in the trailer but Pyrrha, one of Sophitia's children who happens to look alot like her.

Really? I hadn't seen her name anywhere. Where did you find this out?

I think Siegfried and Nightmare are locked in. They will probably keep Kilik, Xianghua, and Maxi around. But none of that will matter if Mitsurugi isn't in there somewhere. I demand old man Mitsurugi. 
 
No Mitsurugi, no sell.

@DeeGee said:

I would like grizzled old Kilik and Maxi to be characters, they're always fun to play with.

Voldo is supposed to ancient already, so I can't see twenty years making any difference to him either.

Yeah wasn't Voldo like 50 in Soul Caliber 2?

I agree that Old Kilik and Maxi would be awesome. They are both pretty awesome fighters.

As long as Voldo and Nightmare are in it I'll be happy.  The rest eh, whatever. If I want to have a character look a specific way I'll use the character editor that should be much more fully featured this time, best part of sc4 for me.

@Lazyaza said:

As long as Voldo and Nightmare are in it I'll be happy.  The rest eh, whatever. If I want to have a character look a specific way I'll use the character editor that should be much more fully featured this time, best part of sc4 for me.

the fact that they're moving away from Seigfried being the "main character" is a good indication that the Nightmare saga is over. In 5 games Soul Edge has only been in the hands of 2 characters, Cervantes & Seigfried.  Seigfried/Nightmare has had it for a good long time now, maybe too long, it's time to see it in the hands of another.  I could be wrong but we'll find out soon enough and hopefully a full CG intro.

I would like a new anti-Nightmare character and a new fighting style for Nightmare (though that's not going to happen). Also, no Mitsurugi, no sale. His combat style is so natural to play I can't play anything else.

@Galiant said:

I would like a new anti-Nightmare character and a new fighting style for Nightmare (though that's not going to happen). Also, no Mitsurugi, no sale. His combat style is so natural to play I can't play anything else.

Mitsurugi's already been confirmed. He is definitely coming back.

Yoshimitsu 
Raphael 
Mitsurugi 

YODA OR BUST

Seriously, though, Kilik and Maxi need to be in there. Putting Nightmare/Siegfried aside, I feel like those two and Xianghua are iconic to Soul Calibur. It'd be great if Mitsurugi made it. Yoshimitsu and Astaroth, too. Whatever, just throw the whole damn roster from SC1 in.

If Mitsurugi doesn't make it (I thought I saw him in a trailer but wasn't sure) I will buy a copy of the game, spit in it, and send it to Namco Bandai Games.

@Galiant said:

I would like a new anti-Nightmare character and a new fighting style for Nightmare (though that's not going to happen). Also, no Mitsurugi, no sale. His combat style is so natural to play I can't play anything else.

Mitsurugi's already been confirmed. He is definitely coming back.

i just want to play all the classic characters as senior citizens

This article confirms that Ivy will return. Predictably, however, she won't exactly appear to have aged seventeen years. This is Namco, after all; remember how Nina Williams was cryogenically frozen after the events of Tekken 2? Expect similar results here.

Im gonna say Taki's daughter shows up to fill the 70 year old Ivey slot with an outfit that looks completely panted on where you even even see the nipples jutting out a bit and of course, why would a busty ninja wear a bra? So that's the prediction.

Astaroth. He is the only character I use! Well I would be okay if he wasn't in it as long as they have a character that has his kind of moves. I always create characters that are attractive cute females with a giant axe close to the style of Presea Combatir.

Old man Mitsurugi cutting peoples guns in half is all I require.

If this silhouette is any indication I think we've got a new Taki .....not so sure about the other guy though
 

Darth Vader