Simply put, Bravo.
This is easily one of the best games on NG, and I thought almost everything was done perfectly. The battle system has the feel most good flash games should; Near perfection, with that little bit of 'style' that makes the game play in a way you can find your own style. The character choice was perfect; Though I think the character from Dad & Me might've lent himself as a low-speed powerhouse, Piconjo did the same thing he would've mostly, but was all around cooler. No need for Bitey, or Clocks; You sir, picked the best combination of characters for this style of game.
I mean, hell. Saladfingers seemed like he might be iffy with me at first, but as soon as I played with him, you proved me wrong. His moves and actions were perfect to himself, and worked as the Dhalsim of this game, which was a nice touch.
I don't even really see the infinite juggling as much of an issue; Sure, it's annoying when it happens to you, but once you've been hit by it, you know it's there and should really start planning on how to not let it happen to you. Or, release you're stress by doing it yourself - It might be a glitch, but I see it more as unintended awesomeness.
My only three complaints are these, and they are minor;
If you have full health, you can't pick up the health item. This mainly sucks because then an enemy gets it up, and I think it'd be in the NG spirit to SPITEFULLY pick it up anyways.
The link to Pico Vs. Convict didn't work for me, at least not in game. Which was sad, because I wanted to watch it after playing this game.
Maybe you could make an item that was literally like, something as simple as a list of everyone's specials? (Such as Tankman's NG Tank) Because so far, I've only been able to get two of them, and the game is done so well, I'd really love to see the work put into each of them, plus they'd be so damn awesome to use in battle.
Again, thanks for such a wonderful submission.