I was a huge fan of the SNES-era Squaresoft, playing games like Secret of Mana, Chrono Trigger, and Final Fantasy VI (released as III in the states, but all the cool kids know it's the sixth game, and Square corrected the numerical discrepancy after that one.)
But for us Nintendo die-hards, the 64-bit era (32-bit? I think this was the generation where "bits" started to break down) marked the abandonment of Nintendo by Squaresoft (now Square Enix, Enix having been a similar company behind games like the Illusion of Gaia.)
Anywho, while most people I know consider VI to be the greatest of the FF games, it's hard to argue that any of those games has been as popular as VII (and to be fair, those people I know will generally consider VII a close second.)
Anyway, VII was released on the Playstation instead of the N64, and I believe all main-franchise Final Fantasy games since have not been released for Nintendo platforms (though some off-shoots have, including Final Fantasy Tactics, which is supposedly great.)
But Cloud, and other characters from VII have become very big names - which is honestly kind of unusual for Final Fantasy, as each game is often self-contained (though they've been pushing for more direct sequels in recent years.)
But now, for the first time, Cloud Strife will be available on Nintendo, and as a Smash Bros. character!
This is actually very appropriate, as Smash Bros. has always been a place for famous video game characters. Nintendo seems to be getting better at the whole licensing thing, and I really hope Snake will make a return, as he was the one character cut from the previous Brawl line-up if I recall correctly.
I like that Nintendo has been releasing DLC, and I really like that they've been pricing things reasonably. I'm pretty happy to get any new characters or stages for Smash Bros, and Cloud will definitely be among them.
Cloud comes with a new Midgar stage that appears to have different Espers show up to alter the battlefield.