I think the models look similar to Mario Sunshine's, but they're noticeably more detailed in polygon-count, lighting, and texture-wise; a much better effort that Double Dash. It's not at the level of SSBM's characters, but I think they look good. However, in the E3 pics it's missing some of the self-shadowing and shiny lighting that was present in the earliest screenshots. I can't tell if the tennis ball is still furry anymore.