Baraka: I wasn't completely thrilled with the first pic released of him. But after seeing the next few pics, I have to say that he looks GREAT! Cool outfit, and his face looks a lot better than in the first pic.

Sub-Zero: I know there's debate, but I'd bet money that the Shredder lookin guy is Sub-Zero. His costume looks awesome! I like the helmet, and he definitely has a more unique outfit, and not the same two he's had since forever like in the last game.

Scorpion: Well, we all knew he'd be in there, and I have to say I'm not overly impressed. Yeah he still looks cool, but he looked almost EXACTLY like he did in MK:DA. That's not a bad thing, but I was kinda hoping we'd see something new with him.

Mileena: One of the coolest costumes I've ever seen in an MK game. The arabian look is sweet, and the overall design is top notch. It's simple, it's revealing, and compared to Li Mei's boring outfits in the previous game, this is a definite improvement.

Ermac: I think it's been confirmed that the red ninja is old Error Macro himself, and if that's the case, then I gotta say that I dig the outfit. It didn't make my jaw drop like Mileena's did, but it's solid, and it makes him look unique. The MK team is definitely not going for palette swaps!! (THANK GOD)

White hat: The character in the white hat, who I can almost guarantee is NOT Rayden, looks decent. The hat looks a little odd, but I suppose it could be Kung Lao, though I doubt it since most people seem to agree that it's a woman. Overall the outfit looks a little plain, but it's also somewhat ornate, so I can dig it.

Blue pants: Most people seem to think that this character is Nightwolf. I'm not nearly as convinced. Yeah, he has blue pants, so what? It doens't look like he's holding an tomahawk either, it just looks like a stick, but who knows, I could be wrong. The look is kinda plain, but then again I couldn't really see it all that clearly.

Other observations:

Does the voice in the trailer sound a bit like Rayden to anyone else besides me? A little deeper perhaps, but it almost leads me to believe that he'll be in the game.

Did anyone else notice that the glowing reddish/orangish eyes in the trailer look an awful lot like Baraka's eyes in the first pic? Interesting, though I doubt they're the same character.

Everyone keeps saying stuff about the Dragon King and Shao Khan. That helmet makes Khan possible, but I wouldn't say that there's anything close to a probability that the two are linked yet. As for the Dragon King, a lot of people are speculating that it's the eyes. Very possible, and I'd really like to see if Reptile and the Dragon King play a part in the story.

The Deceiver: I'm curious, from the description in the trailer, it almost sounds like the deceiver should be Shang Tsung or Quan Chi, as it references an ally. But the whole "lying in wait" vibe makes me believe that it IS either the Dragon King, or a whole new villain/player in the game.