Leifang Definitely belongs up there.... Akira and Gen Fu are debateable and Phase 4 and Eliot, in my oppinion, are not Top 5 Characters...... Kasumi, Ayane and Christie I think are more Powerful.
I don't think how often a Character wins a Tournament is the Sole or even the Primary Deciding Factor in the Tier List...... granted it counts for something but just not enough for him to Skyrocket all the way up to Top 5.