What moves you choose should reflect the character's overall goals! What are you trying to accomplish? What feel should X have?
I would totally agree with this. And both of the smashes you have don't really match megaman's identity imo. Megaman could definitely be a fighter, just not a brawler, hes not much of a fist fighter so I think the up and down smash don't match megaman at all. I know everyone has to have melee attacks for their smashes but both of those moves are from street fighter. And if they are from a fighting game, it doesn't really make him feel like megaman. Like now days in MMX8 he doesn't do any of that. But this is just my opinion, everyone has theirs.