We're looking at 22 playable characters + bosses so I'd say

Mortal Kombat

Confirmed
1. Scorpion
2. Sub-Zero
3. Sonya
4. Shang Tsung

Speculated
5. Liu Kang (Main Hero)
6. Kitana (Main Heroine)
7. Raiden (Too popular to ignore)
8. Jax (Totally fits the theme of this MK)
9. Kenshi (Foil for the Green Lantern)
10. Kano (Like Jax, he just fits the style of the game)
11. Baraka (needs more villains and Baraka is a LOT like Killer Croc)

Boss: Shao Khan (Who else?)

DC

Confirmed
1.Superman
2. Batman
3. The Flash
4. Catwoman

Speculated
5. Green Lantern (Ed Boon mentioned a "mystical superhero", as long as the Lantern isn't Ch'p or Mogo, then I'm happy)

6. Wonder Woman (Boon mentioned an "amazon warrior." Wonder Woman is the only one fitting the discription)

7. The Joker (Boon mentioned a "crazy supervilain" and The Riddler isn't much of a fighter and would be too hard to incorporate into a fighting game. Bizzarro is also too much like Superman and Mr. Mxyzptlk's name is unpronouncable. That, and The Dark Knight comes out shortly so it's most likely The Joker who is going to be in the game.)

8. Steel (Boon Mentioned a "military superhero" and Steel is the only one who fits the bill)

9. Aquaman (Boon Mentioned an "Archetypical Superhero" and Aquaman is better known than Green Arrow or Martian Manhunter and Nightwing is more of a sidekick so I'm going with Aquaman. That and he could have most of Rain's moves so he'd fit too.)

10. Doomsday (Every fighting game needs that big bad guy and while Knockout and Clayface would most likely be more fun to play with Knockout is a Superboy villainess and Clayface just can't compete with Doomsday in terms of fitting the setting of MK. That, and Doomsday would be more fun to play with than Bane would be.)

11. Lobo (He looks - and acts - like an MK character so I"m guessing that he'll be in there)

Boss: Darkseid (He works better than Lex Luthor or Sinestro for a big final boss)

Yeah, I thought about this a lot

Oh, and for DLC (which HAS been confirmed)

MK

1. Cage (Who doesn't want to punch Superman in the nuts?)

2. Kung Lao (After seeing gameplay footage, the characters' moves suit Kung Lao's Playstyle.)

3. Cyrax (The cyborg thing just fits with DC comics)

4. Quan Chi (Again, needs more villains)

5. Reptile (He's just too much of a fan favorite)

6. Havik (I'd just love to see this guy square off against Batman)

7. Goro (It wouldn't be the same without him)

8. Mileena (Fits the gameplay of the new game)

9. Noob Saibot (He looks like he could be a villain from The Flash so he'd be a good choice for DLC.)

DC

1. Green Arrow (He IS a martial artist after all)

2. Robin/Nightwing (Way too similar to Batman to get into the actual game but would make a good DLC character)

3. Poison Ivy (Immobilizing attacks, dart projectiles and bleeds white. Need I say more?)

4. Deadshot (This guy looks like an MK character, I'm not going to lie)

5. Metallo (He's big and there are a LOT of special moves that he could use in game)

6. Firefly (I want to use him SOOO badly)

7. Hush (After seeing the art style, he totally belongs in here)

8. Scandal (Needs a ninja on the DC side)

9. The Parasite (This guy could copy moves and have a lot of cool attacks in the new klose kombat system.)

Lobo better be in this freaking game, I think I saw a screen with him

Someone make the total score please ;p !

4 confirmed characters for MK and DCU now. Tomorow 2 other characters ???

MK ROSTER ONLY

SCORPION
SUB ZERO
SONYA
JOHNNY CAGE
BARAKA
RAIDEN
REPTILE
NIGHTWOLF
SHINNOK
SHANG TSUNG
SHAO KHAN
REIKO

Let's see.....



MK:

Liu Kang (confirmed)
Sub Zero (confirmed)
Scorpion (confirmed)
Sonya (confirmed)
Shang Tsung (confirmed)
Jax (confirmed)
Kitana (confirmed)


Raiden
Kung Lao
Mileena
Reptile
Noob Saibot
Johnny Cage

Goro (sub-boss)
Shao Kahn (boss)



DC Universe

Superman (confirmed)
Batman (confirmed)
The Flash (confirmed)
Catwoman (confirmed)
Captain Marvel (confirmed)
Green Lantern (confirmed)
The Joker (confirmed)


Wonder Woman
Martian Manhunter
Nightwing
Lobo
Deathstroke
Green Arrow

Doomsday (sub-boss)
Darkseid (boss)


That's my ideal/most likely roster. Some of those are biased choices for me (Noob, Reptile, Lobo) and may not be too likely because DC might want to choose some characters that have slipped under my radar(Captain Marvel, for example). As for the MK characters, I fear some classic characters might lose spots to newer, less deserving characters, but hopefully not.

For the MK side:

1. Scorpion
2. Subzero
3. Liu Kang
4. Sonya
5. Shang Tsung
6. Kitana
7. Raiden
8. Reptile

For the DC side:

1. Super Man
2. Batman
3. Cat Woman
5. Flash
6. Wonder Woman
7. ?
8. ?

MK Characters

Confirmed:

1- Sub-Zero
2- Scorpion
3- Sonya
4- Shang Tsung
5- Liu Kang

Expected:

6- Kung Lao
7- Kitana
8- Mileena
9- Jax
10- Raiden
11- Baraka
12- Johnny Cage
13- Kenshi
----------------

DC Characters

Confirmed:

1- Superman
2- Batman
3- Catwoman
4- Flash

Expected:

5- Green Lantern
6- Wonder Woman
7- Poison ivy
8- Lobo
9- Hawkman
10- Elongated Man
11- Joker
12- Brainiac
13- Deadshot

UPDATED
Mortal Kombat

1. Sub-Zero (+)
2. Scorpion (+)
3. Raiden (?)
4. Sonya (+)
5. Johnny Cage (?)
6. Kano (?)
7. Liu Kang (+)
8. Reptile "Shaolin Monks" (?)
9. Shang Tsung (+)
10. Shao Kahn (?)

Secret Characters

11. Kitana (+)
12. Noob Saibot (?)

DC UNIVERSE

1. Batman (+)
2. Superman (+)
3. Wonder Women (?)
4. Flash (+)
5. Green Lantern (+)
6. The Joker (+)
7. Mr. Freeze (?)
8. Poison Ivy (?)
9. Bane (?)
10. Riddler (?)

Secret Characters

11. Harley Quinn (?)
12. Nightwing (?)

MK:
Scorpion
Sub-zero
Johnny Cage
Reptile
Shang Tsung
Sonya
Jax
Kabal
Cyrax
Sektor
Raiden

DC:
Superman
Batman
Doomsday
Joker
Green Lantern
Flash
Wonder Woman
Mongul
Poison Ivy
The Sandman
Crimson Avenger

You know some good pairings would be

Sindel/Black Canary.

Nightwolf/Green Arrow.

Also Havik would be a good addition, since he could be a parallel to any crazy/psycho villain (Joker, Scarecrow)

I will be 100% satisfied if these characters make it...The Joker, Doomsday, Reptile, Shao Kahn, Quan Chi, and i doubt it cause thats already too many Batman characters but Two Face.

MK:
Kitana Jade Sindel Scorpion Sub Zero Sonya Johnny Cage Raiden Mileena Shao Khan Jax


DC:

Giganta w/ Loin Cloth Costume (Main) current (Alternate)
Batman Flash Superman Wonder Woman Joker Robin and Green Lantern

Let me list mine

Mk:
Confirmed:
1.Scorpion
2.Sub-Zero
3.Sonya
4.Shang Tsung
5. Liu Kang
Unconfirmed:
6.Johnny Cage
7.Kabal
8.Kitana
9.Mileena
10.Reptile
11.Raiden
12.Quan Chi
13.Cyrax
14. Shao Kahn (as a boss or something 4 Mk's side)

Dc:
Confirmed:
1.Superman
2.Batman
3.Catwoman
4.Flash
Unconfirmed:
1.Green Lantern(he could be a matchup against johhny cage)
2. Wonder Woman
3.Joker
4. Aquaman
5. Doomsday (as a boss)

Other than that im not so sure about Dc I mean I know some of their heros but u know I dont know that many.

Johnny Cage
Noob
Scorpion
Sub Zero
Reptile
Sonya Blade
Blaze
Goro
Baraka
Boss:Liu Kang


Batman
Superman
Bane
Joker
Wonder Woman
Aqua Man
Flash
Black Manta
Brainiac
Boss:NIghtwing

All characters from the main Justice League and the Teen Titans.

MK Side:
Ashrah,
Blaze,
Daegon,
Noob-Smoke,
Khameleon,
Taven,
Reptile,
Li Mei.

My bets are on:

MK
1. Scorpion (confirmed)
2. Sub-Zero (confirmed)
3. Sonya (confirmed)
4. Lui Kang (confirmed)
5. Shang Tsung (confirmed)
6. Johnny Cage (original, icon)
7. Kano (original, icon)
8. Raiden (original, icon)
9. Goro (original, icon, if he's not playable he should be the sub-boss)
10. Reptile (original secret char., icon)
11. Kitana (iconic, only non-mk1 char to be included in 1st movie)
Boss: Shao Kahn

My hopes are for others as downloadable chars but I believe these to be the most iconic as they are all from the very first mortal kombat game except Kitana, but she was the only character who wasn't in the first game who was a major character in the first movie so I believe her to be among the most iconic. Basically I'm counting on the movie cast with the rest of our favorites being downloadable.

DC
1. Batman (confirmed)
2. Superman (confirmed)
3. Catwoman (confirmed)
4. Flash (confirmed)
5. Captain Marvel (confirmed... but why? lol. sorry this one surprised me.)
6. Joker (has to be in, TOO iconic, counterpart to Kano)
7. Doomsday (Iconic killer of Superman!, counterpart to Goro, if not playable should be sub-boss)
8. Wonder Woman (Iconic amazon princess, counterpart to Kitana)
9. Green Lantern (iconic, dunno who he'd be counterpart to of original cast)
10. ?
11. ?
Boss: Darkseid (The other conquerer, counterpart to Shao Kahn.)

I dunno who else should be in DC could be anyone since the included "Shazam!" I only like the Batman characters really. Hopefully Bane will be a downloadable.

They mentioned in the story on WorldsCollide.com that two conquerers are merged. Perhaps Shao Kahn and Darkseid will become one superior entity with Goro and Doomsday (or hell merge them too) for sub-bosses.

::Contemplates pain of a giant four-armed Doomsday-Goro combo and shudders::

I don't know who else is going to be in at this point, and I don't feel like speculating right now, but I think it would be pretty stupid if they only took characters from MK1 and MK2, and so far they have only taken characters from MK1.

Then people are guessing that they will have:

Raiden (MK1)
Johnny Cage (MK1)
Goro (MK1)
Reptile (MK1/MK2)
Kitana (MK2)
Baraka (MK2)
Shao Kahn (MK2)

Don't get me wrong, I love some of those characters, but only using characters from MK1 and MK2 is kind of a waste. I feel that the newer characters aren't as iconic as the older characters are, but I still feel they have their place in the MK universe.

I would be fine with that roster but I think you should throw in Harley Quinn.. She would be fun to play as and also fun to beat up

Updated my list:

MK Side:
-Jax(confirmed)
-Kitana(confirmed)
-Liu Kang(confirmed)
-Scorpion(confirmed)
-Shang Tsung(confirmed)
-Sonya Blade(confirmed)
-Sub-Zero(confirmed)
-Raiden(given)
-Mileena(female villain)
-Kung Lao/Johnny Cage(I don't really know which one.)

Well, based on the confirmed characters, I highly doubt anyone not in MK-MK2 will make it. Noob, Smoke, Jade, Baraka, and the boss characters are unlikely to appear as well. Reptile might not make it too. There are two male ninjas already so adding one more to a limited list wouldn't be a good idea. Kano is not that important for a villain so I just picked Mileena over him.

DC side:
-Batman(confirmed)
-Captain Marvel(confirmed)
-Catwoman(confirmed)
-Flash(confirmed)
-Green Lantern(confirmed)
-Joker(confirmed)
-Superman(confirmed)
-Wonderwoman(given)

Since Captain Marvel is in, I guess anything could happen.

sub-zero
scorpion
ermac
liu kang
reptile
shao kahn
sonya
milieena
raiden
quan chi

nightwing
flash
doomsday
green arrow
green lantern
joker
martian manhunter
wonder woman
super girl
shazaam

sub-zero
scorpion
ermac
liu kang
reptile
shao kahn
sonya
milieena
raiden
quan chi

nightwing
flash
doomsday
green arrow
green lantern
joker
martian manhunter
wonder woman
super girl
shazaam

(Confirmed)
scorpion
sub zero
sonya balde
shang tsung
liu kang
kitana
jax
(Who i think is left)
Johnny cage
Raiden
Kano


DC
(Confirmed)
Batman
Captain marvel
Superman
Catwoman
The flash
joker
green lantern
(who i think is left)
Wonderwoman
Aquaman
robin

Who I think will make it . . .

MK
Scorpion
Sub-zero
Sonya
Shang Tsung
Liu Kang
Jax
Kitana

Raiden
(Earth realm is implicated so the thunder god will likely make an appearance. He will likely be the one to explain what is happening with the worlds)

Johnny Cage
(Given that the "cataclysmic event involves earth, he seems likely)

Mileena
(Adds another female character and a classic villain. Also with Kitana confirmed, I think this increases her chances.)

Reptile (if there are 11 on each side)
(The MK side needs another villain. It could be him or Quan Chi.)

DC
Batman
Superman
Flash
Catwoman
Captain Marvel
Joker
Green Latern

Wonder Woman - a given
Zatanna - wasn't one of the hints a mystical super hero?
Lex Luthor - arch villain
Doomsday - every game needs the obligatory oversized powerhouse

That would give 3 female characters on both sides and add in a nice selection of villains. The DC side is a bit harder for me to predict. I think Green Arrow could make it as well, or possibly Dr. Fate instead of Zatanna.

Well after all the news, here's my updated roster (using the hints from Kotaku for the DC side):

MK (confirmed) -

1. Liu Kang
2. Sub-Zero
3. Scorpion
4. Sonya
5. Shang Tsung
6. Kitana
7. Jax

MK (unconfirmed) -

8. Raiden (most likely to be in)
9. Reptile (if there will be another ninja, Reptile could be in as well...not to mention it would add another villain to the roster)
10. Mileena (would add another villain as well)

DC (confirmed) -

1. Superman (Prototypical Superhero)
2. Batman (Masked Vigilante)
3. Flash (Speedster)
4. Green Lantern (Military Superhero)
5. Catwoman (Sexy Villainess)
6. Joker (Crazy Villain)
7. Captain Marvel (Mystical Superhero)

DC (unconfirmed) -

8. Wonder Woman (Amazon Queen)
9. Lex Luthor (Arch Villian)
10. Deathstroke (Ninja Villian)


Darkseid (Epic Villain)...I'm guessing this might be the boss along with Shao Kahn due to the bosses being a merged character. So "Dark Kahn" would be probably be an unplayable boss.

I'm not sure if there's 11 per side anymore due to the character select screen so right now, my updated list has 10 per side.

Mmm the way the Line up of confirmed characters for MKs side is looking looks like they put mainly the original characters say from MK1 and MK2 but god I hope Johnny Cage is in it its totally gonna suck if they dont put him in it.