There's a break in all the awesome that's been going on, so now it's time to do a second-by-second breakdown of all the cool neat things I see in these new trailers...
Sonic trailer:0:01 - Mario fighting off Goombas in an area we know to be in Adventure Mode...Does this mean that we could run into Sonic or is this made purely for the trailer?
0:12 - Looks like a taunt...
0:15 - Sonic using his Spin Dash for the first time of many in the trailer...Most likely his standard B attack...
0:16 - The sound that Sonic makes braking after his Spin Dash! Old-school sound effect!
0:24 - Classic "Uh oh, gonna fall!" animation!
0:26 - Lock-on attack from Secret Rings! (Most likely Down+B attack...) You can also see Mario using FLUDD for the first time!
0:28 - Sonic's Grab + Down Attack most likely...
0:29 - Oh yeah, his classic jump sound effect is in too!
0:34 - Most likely Up+B Spring Jump, but a bit difficult to tell...
0:35 - Warp Star! Minor, but it's also really cool how Link's Spin Attack has the little glint of light at the end of the attack...
0:38 - CLASSIC FIRE FLOWER! New enemy that looks like a fish with a giant eyeball...Also some interesting new round obstacle things that run on a set path...
0:41 - Oh man, Sonic will be fun to use in Adventure Mode...
0:43 - The money shot of the trailer...Mario and Sonic taunts perhaps?
0:45 - Super Sonic - Sonic's Final Smash, obviously...
Full Trailer:0:04 - Did Peach's Hip Thrust attack always produce hearts? And geez, Kirby got DRILLED by that one multi-thrust attack of Meta Knight's, all across the platform!
0:06 - Andross! Bowser took around 40 damage before getting launched...
0:09 - Bridge of Eldin looks pretty wide! And the Smash Ball appears to just float across the stage, possibly even sinking through it unlike other items...Possibility of multiple Smash Balls or selectable Zero Suit Samus due to her appearance...
0:10 - Fox Shadow Dashes into the Smash Ball to bring out the Landmaster!
0:11 - Yoshi causing destruction on Shadow Moses with his Super Dragon Final Smash, destroying the side walls in the process...Looks REALLY chaotic!
0:14 -
New Pokemon! Kyogre!0:15 -
New Pokemon! Torchic! ALSO, New Stage! Looks Metroid-based! (Though it COULD be the area underneath the Fire Emblem throne room, too early to tell)0:17 - Piplup in motion...
0:17 - Snorlax looks a lot more 3-dimensional this time around...Looks nice!
0:17 - Lakitu looking good...
0:19 - Lyn! I like how she's all "Hm?" I love all the stuff going on in the background of the Lylat Cruise stage too...
0:20 - Mr. Resetti covering up the screen with text...

0:25 - The trophies look really nice!
0:34 - Oh man, the fanfare here is epic...
0:36 - Petey animates GREAT!
0:37 - Ahaha, Poppants! I also love the stage design here, with the rolling hill and the cloud platforms...Also a new cloud-type enemy!
0:38 - Fox blowing up some Kirby-esque blocks...
0:40 - Donkey Kong Country deja vu! The door at the end reminds me of Super Paper Mario...
0:42 - Looks like Snake's intro in Adventure Mode, perhaps?
0:43 - Definitely a Yoshi taunt...
0:46 - Ice Climbers taunt...Wait, what is that stage they are on!?
0:47 - Lucas taunt, perhaps? Looks like he's using a "Life-up" move (or faking one), but it's hard to tell...
0:48 - Holy crap Ike's taunt is bad-ass...
0:50 - Can see Pokemon Trainer yelling orders to his Pokemon, but you don't actually hear a voice or sound...
0:51 - It's that new stage area again!
0:52 - DK and Diddy taunts...
0:54 - Wario taunt...I like how his mustache bounces when he closes his mouth... =D
0:55 - Link and Zelda taunts, with K.K. in the background!
0:56 - Samus missing a chance to zap Fox with her stun gun...
0:57 - Haha, Peach dancing...New move or taunt? I'm going to go with taunt...
0:59 - Pit and Samus taunting, but I can't tell if Pikachu's is just his idle animation...
0:59 - Kirby and Meta Knight taunting...Meta Knight's is also cool, with his "swishing the blood" from his sword and checking the straightness of the blade...
1:00 - Aaaaand, ending with Mario's forward smash...