I may have mentioned this in another topic (to...mixed fanfare), but I think I'll talk about this point without glossing over it:
Klonoa being in Soul Calibur would be the most awesome thing ever. And no, not as a keychain: He could switch between several weapons, kind of like Link in Soul Calibur II: He could use his Wind Ring, the Hammer, his sword, those..hand-weapon-chainblall thing he used in Heroes, and maybe even weapons from Guntz and Pango...possibly. You know, a bomb (like Link, again), and maybe a gun of some sort...but that seems a bit out-of-character for him, I suppose.