[SirFozzie]

Here's some suggested characters (again, from the campaign setting I wrote for the Arenas Supplement, just to give an idea of what to create for the dynasty)

Suggested Starting Power Level: 1-2
Suggested Finishing Power Level: 4-5

Campaign Mood: Gritty, but not grim. The fighters can make a significant improvement to the city by the end.

Finishers? No.
Weapons? Blunt only.

Super Moves: Not until PL 3.

Fighting Style: 2D arenas for scheduled fights, freeform for unscheduled fights or Thug Thrashing.

Boss: Red Tiger (PL 5).

Sub-Boss: Black Hyena (Alex Donaldson under a mask).

Selected Other Fighters:

Hoss (gang boxer seeking redemption)

Master Tsui (Ex-master of Alex Donaldson, looking to pull his student back to the path of righteousness).

Kai Lin (Daughter of a gang crime boss, wanting to prove her ability).

Matt Clown (Giant juggling clown. Yes, he’s a clown – a 6’10”, 400 pound clown. Do you want to tell him he can’t be a clown?).

Graveyard (Enforcer for the Salvetti crime family).

Masamune: A master of the sword (but with no edge, so it’s a legal weapon in the tournament).

Jerry: A rogue cop entering the tournament in an attempt to take the
Thunderball Syndicate down.

Kichiro: A former Karate student, entering the tournament for the money
to pay off his gambling debts.

So, it's like the early street fighter games where characters are powerful martial artists, but not uber-fighters like the current editions.