Some notes about "Banned" or nearly banned SF characters
That's SF2 Turbo Akuma.
super street fighter 2 turbo hd remix.
Super Turbo(ST
or SF2 Turbo) and Super Street Fighter 2 Turbo HD Remix(HDR) are two separate games!
Super Turbo refers to the old arcade version from the 90's, and HDR is a (as of now) console exclusive game for XBLA and PSN. HDR was "rebalanced" for top level play with some tweaks to the characters, and a total rework of Akuma. Akuma for Super Turbo had a minimal 8-2 against every character(and that's playing devil's advocate), a lot of 9-1's and probably a few 10-0 matchups. Akuma from HDR was deemed to be ban-worthy because he is able to perform a guaranteed 50% damage super because of a noted bug. Before this, they had "created" HDR Akuma by taking ST Akuma and nerfing some of his normals, INVINCIBLE crouching kicks, his fireball lockdown problem(that he did, not his opponents), sizable invincible startup on his specials, and
purposely added weaknesses (he takes about 10% more damage than every other character, non-invincible normals, more lag after attacks), etc. In order to give him balance (make him a viable character), they gave him a super attack which can only land on grounded characters (not even characters beginning their jumps). However, due to a bug, he can land an air fireball and if you block it low, he can land a free super (50% of your health in damage) unless you block high, but when you do.. he gets a free combo that can score a knockdown and start it over! Now this isn't as bad as ST Akuma, where his hurricane kick special is somewhat invincible and combos into itself, and he has an invincible, lag-free teleport to escape. ST Akuma also
cannot be dizzied by other characters (only one with this bonus in the game). HDR Akuma
maybe has a 6-4 against Dhalsim, but primarily has 7-3 matchups and above. Provided HDR is patched to alleviate the large blockstun from air fireball and if Capcom adds recovery after throwing one, he should be a viable character once more. I'd guess he would lose his advantage in at least a few matchups, too. For those curious, here's a link to some basic thoughts behind Akuma's initial re-balancing for HDR
(link).
ST Akuma Examples:
(Arguably) World's Best Chun Li vs. a "good" Ryu player using Akuma:
http://www.youtube.com/watch?v=JRcb3SGbLhY
The same player abusing Akuma's strengths vs. a Zangief:
http://www.youtube.com/watch?v=kx2oevVXrH8
You may notice around the 1:20 mark, the Akuma leaves Zangief in perpetual blockstun for a large amount of time! (Comparable to being hit so fast and often you can't escape your shield in smash)
Same Akuma vs. a Blanka
http://www.youtube.com/watch?v=2OQkzX5pSt0
Shows an example of the hurricane kick combo and his lagless, invincible teleport.
Oh, and keep in mind that these were from
3v3 tournaments where the ST Akuma players
weren't allowed to have teammates and yet still advanced quite far. Each 3v1 against Akuma let a team have three chances against the same flaws of the single player, only needing to beat him once.
Compared to HDR Akuma:
DSP (Akuma) vs. Justin Wong (Sagat):
http://www.youtube.com/watch?v=ztZurroGzoM
Features the fireball -> super
DSP (Akuma/DeeJay) vs. Damdai (Akuma):
http://www.youtube.com/watch?v=wUP6OAywFFQ
Deathscythe (Ryu) vs. DSP (Akuma):
http://www.youtube.com/watch?v=LRWg9lhHPeI
Another character from Super Turbo that most people fit the gray area of "banned" status is Old Sagat. Basically, Sagat you pick in a special way that doesn't have a super meter, but does a bit more damage with attacks. Japan does a soft-ban on him (selecting him is frowned upon). His lack of super makes him beatable because most super attacks will go right through his tiger shots and pretty much balance out the game by scoring a knockdown and giving the other character a chance to win.
Examples of Old Sagat's "ridiculousness":
John Choi (O.Sagat) vs. Alex Valle (Ryu):
http://www.youtube.com/watch?v=2R1bvebFk1w
John Choi (O.Sagat) vs. Nuki (Chun Li) (#3):
http://www.youtube.com/watch?v=xNbwXq3zPGI
Choi does win the best of 5 though...
John Choi (O. Sagat) vs. Daigo (Boxer):
http://www.youtube.com/watch?v=Q_E3n0hZZug
Yeah, Daigo is good.
SFIV Confusion Section:
As a side clarification for Street Fighter IV, Seth, Gouken, and Sagat are
NOT BANNED for tournament play, anywhere. Seth/Gouken are console exclusive characters, so you won't see either in a tournament in Japan because they tend to run them at the arcades. Because the arcade version was around before the console version here in the US (in select cities), most arcade characters are much more developed than their console counterparts. Thus, you see mainly arcade characters in US tournaments, even those using PS3's (or 360's). In terms of the "they're banned" perception, a few tournament organizers nearly (or temporarily) had the two banned for tournaments set shortly after the console release because of the worry they could be "gamebreaking" and imbalanced.
Seth, being the main boss of the game, was feared because of his large combos, and high versatility (command throw, teleport, dhalsim arms, projectile). In the multiplayer version, he has the smallest amount of life of any charcter and dizzies the easiest. This allows him to be "cheap" and runaway, yet still be balanced because any error could lead to ONE COMBO that would dizzy him and potentially setup another combo that would KO him.
Gouken was feared to be banworthy because he introduced a new type of fireball (ground to air), and was a secret boss in the arcade version. Remembering how potent ST Akuma's new air fireballs were, some people rushed their decisions. In the multiplayer game, he has a solid amount of health, but lacks a "safe" reversal (get-up option after being knocked down). His main choice is to do a very laggy hurricane kick that takes him skyward and is very easy to abuse, or block. Meaning, should you score a knockdown on him, there is no guarantee he'll be able to start his basic game of keep away before you can beat him. Also, his fireballs have a decent amount of lag afterward, meaning if he misses with one, you probably can combo into a knockdown (his biggest problem).
As a player, you have to be very good to win with either of these two consistently at the top level of play.
Sagat is a default character (and most of the top paragraph was not directed at him because of this). He has a very good basic "game" with two kinds of ground fireballs, an uppercut and a special that's armor breaking (Tiger Knee). He is very good. You will probably never hear him being thought of as a not "Top 3" character. He
maybe has one 6-4 matchup (Dhalsim), but primarily 5-5's to 7-3's. Despite being universally considered "good", he is by no means broken because he lacks any wholly unique tactic that cannot be countered, or any characteristic that allows him to avoid some basic gameplay mechanic (like ST Akuma's stun invulnerability). As a whole, American Sagats are thought to be worse than their Japanese counterparts. This was a big reason behind ZERO Sagat players placing top 8 at EVO (no Japanese Sagats came, afaik). Instead, two Japanese Ryu players got top 8, with Daigo winning.
[
SFIV Generally Accepted Tier List, decided by overall +/- in matchups]
Side note:
I skipped Gill from SF3:Third Strike, but pretty much he was banned because he could
RESURRECT AFTER LOSING if he had super meter, and had exceptionally good normal attacks, fireballs, and speed/recovery from attacks.
What to take from this big post: there are a few noted street fighter characters listed here to compare to Meta Knight. Compare MK to whoever you feel like with my (somewhat limited) knowledge of other banned, or near-banned Street Fighter characters. I do have to admit that Meta Knight is probably closer to SFIV Sagat than any other example given here. If not Sagat, then one of the other two examples from SFIV. Seth could be considered if you think of his relatively "early" deaths, and potentially devastating keepaway game (

for Zangief). Gouken could draw a parallel through his notable flaw. He lacks something useful (Gouken lacks of a safe reversal, MK a projectile). After thinking about this today, I'm probably stuck leaving my vote on the "No Meta Knight Ban" side.
Note: I apologize if any of this was covered since I started typing, I got distracted and let this slip from my mind for a bit

I'd love to hear comments on this post, and I might leave something like this up on MLG's Smash section over the weekend, if anybody checks there occasionally. If you need to quote this, try and just clip the relevant sections, as this is a very large post.