X-factor is overpowered, and in certain cases, almost broken. Thankfully, it's getting toned down in UMVC3, along with many other good choices they're making for overall balancing the gameplay.
As for Phoenix/Gordon, I don't even care what you think. You have a terrible habit of claiming matches are TOTALLY OBVIOUS and then either gloating for months afterwards if you're right (Samus/Mario) or playing it off like you never said a thing (Fire Emblem/No Mercy.) There are arguments to be made for both sides, and anyone who pulls the 'you guys always fall for stuff' card is white noise to me, especially considering I picked Jecht last year.
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Black Turtle did a pretty good job.