Notes! Yes, some of the rankings my cause rolling of eyes, but I will freely admit I'm not perfect. Re-running a normal season was having 3/4 of the matches be blowouts; if only half the matches are blowouts here, I'll call it an improvement, even so. And if some people are under/overpowered, well, fine, they'll lose and/or clean up. I will say that one of my biases is to strongly punish idiots in plot power tournies and reward smart types - hence Seifer and Lucia in Light, because despite theoretically being badasses, they fail it up repeatedly anyway. Heck, I'd be tempted to place Rosa in Light despite being an awesome white mage who helps kill Zeromus, due to her habit of repeatedly getting captured/kidnapped. Also, some of the characters from weird and/or obscure games are in precisely because they don't get into the DL normally often, so best to use 'em when there's a chance.
Anyway...
Godlike
Hrist (VPs) vs. Luc (S3) - How much do I punish Hrist for her scene in VP2 Chapter 6 where the Valks stand around like idiots and let Lezard perform the Sovereign's Rite? I don't think there's any indication that Lezard was specially powered up by his Sacred Artifacts in order to do that, and Luc has a comparable "suck the True Rune" off someone move he uses a lot. Close, but leaning Luc.
Kuja (FF9) vs. Will (Illusion of Gaia) - Will gets some stupid plot hype which is a bit more than your average chosen warrior, but yeah, Trance Kuja is amazingly boomy, and Will needed what's-her-face annoying girl's help for the final battle.
Vormav / Hashmalum (FFT) vs. Millenia (Grandia2) - Defeating other demons is kind of Millenia's specialty. Hash, while not a pushover, is clearly not at Altima's level.
Nicolai / Astaroth (SH2) vs. Dracula (Castlevanias) - Apparently I have more Nicolai respect than most... like Yuri, he was able to keep his demon under control, at least for awhile. Astaroth was also the somewhat holy-aligned demon, IIRC (With Asmodeus evil and Amon neutral), which would be useful against Drac, who while impossible to kill permanently, is still beatable in a duel.
Heavy
Belselk (WA) vs. Arngrim (VPs) - Didn't play ACF, so if Belselk is powered up there, not familiar with it. Arngrim is definitely one of the best einjergar, who are stronger than most mortals, so I think he can take this.
Rubicant (FF4) vs. Bastila Shan (KOTOR) - Bastila fries. She only scrapes Heavy thanks to Jedi tricks and a lightsaber, and those I don't see really working on Rubicant.
Lynx (CC) vs. Citan (XG) - Lynx kind of sucks; not buying the "CC plot woo something might happen!" garbage (but it worked for Serge, hence Lynx in Heavy?). The body-exchange thing doesn't seem to be repeatable and was probably Serge-only anyway.
Nina (BoF2) vs. Galuf (FF5) - Legendary ancient warriors and all.
Middle
Dahna (G3) vs. Cherenkov (XS) - Dahna can damage Cherenkov! And it doesn't matter.
Kresnik Ahtredie (WA4) vs. Drachma (SoA) - Tricky. Kresnik runs out of juice easily, and Drachma is legendarily durable... but Kresnik's also capable of continuing on when by all rights he shouldn't? Coin-flip... congratulations, Kresnik.
Rena (SO2) vs. Tidus (FFX) - Rena has amazing healing powers from a super-alien race, and Tidus... is good at blitzball. Hastey time powers aren't enough here.
Light
Pikachu (Poke) vs. Lucia (Lunar2) - Lucia has the intelligence and social skills of a four-year old, hence loses to anyone with half a brain... which Pikachu can't really exploit, not being able to say much.
Snowe (S4) vs. Gobi (BoF) - Ack. Snowe fails it up at every opportunity, but is implied to suck somewhat less at the very end... while Gobi is a merchant along for the ride. Eh, the sea is actually somewhat relevant here, so Gobi takes this one by capsizing Snowe's ship or something.
Hammer (XG) vs. Allen (XS) - Hammer is pathetic, but he pulls the trigger when the pressure is on. Allen would dally around too long.
Seifer (FF8) vs. Tia (Lufia2) - Both fail, but Seifer fails against stiffer competition.
