For shame! This game has been out for months and no tier lists?? This is SRK people.
S - Kyo, Joe
A - Ash, Duo Lon, SHEN WOO, Iori, Terry, Andy, Raiden, Athena, Chin, Robert
B - Beni, Daimon, Kim, Kensou, Ryo, Leona, Ralf, Clark
Kyo and Jo both have damaging BnB combos that work anywhere off of light taps, and have versatile movesets.
I think Terry might join those two- he can a very strong corner combo, can combo easily into his cancellable df+C off of light taps, and c.C and c.D have great reach.
Raiden should move up a bit too, he can really deal silly damage, his BnB throw combo does more than a lot of supers.
Leona sucks cos she just doesn’t do anywhere near enough damage. In a game where half the cast have fireball/dragon variants, Ash and Athena have by far the best of both.
EDIT:
Tier list from Arcadia this month (June/July)
S Rank: Kyo, Iori
A Rank: Terry, Andy, Joe, Shen Woo, Kensou, Ralf, Kim, Ryo
B Rank: Robert, Ash, Chin, Raiden, Daimon
C Rank: Benimaru, Duo-lon, Leona, Athena
D Rank: Clark