I CAN'T BELIEVE nobody's found my formation yet! SWEET! Mine's Sasuke (Chidori) as leader, Itachi (Fireball Jutsu) and Kimimaro (Larch Dance) as support. I have a speed Ultimate Team Formation. I am almost UNBEATABLE! Even my 9 year old cousin can take on insane computers and his best character is Kimimaro, and can only take down a bar and a half of my health most of the time. I have this SWEET combo if it hits, where Kimimaro launches my opponent up with*Larch Dance, then Itachi shoots them back with Fireball. It does A LOT of damage and gets some distance for a Chidori charge. Also, Itachi's Fireball and/or Kimimaro's Larch Dance (if positioned correctly) can distract the opponent by covering you completely*so you can get a special or Chodori in, or wait for them to let down their gaurd after the support attack and atack yourself before your supports hop away. (I know, I REALLY think this stuff out.)
My second is any of my other good characters, and Neji with Rotation and Naruto with Rasengan as support. Oh, and Itachi is fast, and most people are better with speed than power. That's probably why a lot of people have Itachi, but Neji and Naruto and quite a few others are good support.*