S Class
Cedric
Keeping his opponents pinned down with low-recovery projectiles is Cedric’s speciality. His Holy Devotion hits very quickly, which makes it good for air defense or reversals. Although Cedric has some good pokes, he’s got scant low attacks [especially if D is held down for St. Drop Kicks] so he’s limited to normal throws if he wants to break his opponent’s defense.
Ashley
Ashley’s ability to turn a Gachi Drive into an infinite combo is a big weapon, but his basic abilities are strong to begin with. These include speedy jump attacks, command throws with decent range and various moves that leave his opponent open to follow-ups. His Heat Up can be used for a high/low mix-up plus big damage. Ashley doesn’t have any invincible moves; lack of a quick reversal is one weak point.
A Class
Face
Face has fierce sequential attacks, plus the quick start-up for his Texas Knee and super moves give him an outstanding interrupt and anti-air ability. Quick start-up on the Kouya no Bazooka, in particular, makes it difficult to Gachi. If your opponent tries to stop the sequential attacks using Gachi, you can be in trouble, however. Mix up high/low and use feints [hold the button down during Wild Comeback and Frontier Shot] to baffle their counter attempts or you’ll get killed by a couple Gachi Drive combos.
DeathBringer
DeathBringer’s great range lets him keep is opponent at a distance. He’s also got devastating combos off of Gachi Drive hits and good normal throw range. Up close, however, slow moves and a lack of invincible attacks means you’ll have to struggle. Whether or not the opposing character can block and counter Death’s pokes will change the match-up dramatically.
Donvalve
Good command throws and the huge far standing C are Don’s primary weapons. Close C -> Flying Don Cake is a fierce anti-air combo. His crouching A is the fastest in the game. Donvalve was ranked at the top in the spring ('07), but he fell a bit as people became more adept at avoiding his command grabs.
Coyori
Multi-hit jump attacks, Uraban Cha mix-ups and big hit confirms off weak attacks put Coyori in the top tier [or not.] She lacks any mid range moves, however, and her constant assault is a big target for Gachi Match/Drive attempts.
Urs
Urs’s excellent hit confirms and big combos plus his terrific counter attack ability give him a lot of stability. He has the potential to go head-to-head with the top tier group. On the other hand, Urs has few good mid range moves and his throw whiff animation is longer than the rest of the cast. Avoiding counters up close is key.
Freed
Freed can deal a huge amount of damage in a very short amount of time. Welcome Tempest is a very handy reversal move. Outside of Heat Up! trickery, however, he doesn’t have many mix-ups beyond attack/throw. Predictable Magun Jetter attacks can get him in trouble vs. Gachi Drive, too.
Odile & Dokurod
Odile’s strengths lie in multi-hit special moves, the cross-up dash and quick Petite Pirouette attacks from the air. She can be tough to Gachi or throw so she can really pin some characters down. Odile’s damage off of Gachi combos is poor which means she’s in trouble when they go on offense. It seems like her position on the ranks could fall as more research is conducted.
Marco
Although he has some standard attacks and a strong okiseme ability, Marco pokes and the low damage they get him, low health and a short jump arc mean he tends to get out-ranged. Since he has a wide variety of attacks, if you can close the gap you’ll be in a strong position.
B Class
Olivia
Olivia’s normal move pokes and angled jump attacks are both remarkable. She lacks mix-ups and it’s tough to hit confirm unless you’re very close. Combo damage is also meager so she’s fallen into the bottom tier. If Olivia only had an invincible special move she’d probably be ranked higher.
Watson
Leveling up can be arduous; plus lacking any worthwhile attacks beyond throw and jump C at level 1 makes things tough for Watson. Score a Gachi early in the fight to make things much easier.
I still think the game is very balanced though.