I think Nightwolf would kick ass in MK2. Take away run, knock him down to MK2 speed, and obviously autocombos are gone. Let him keep Shoulder Rush, Hatchet Uppercut, and Bow & Arrow as projectile since he only gets three moves. He'd have some kickass fucking MK2 combos. aaHP, HP, hatchet, hatchet, bow & arrow. Fuck, yeah. I'd give him average jump in priority, and good priority on jabs (lower than Cage & Shang, but way better than Jax or male ninjas; maybe as good as the females or Raiden). I'd give him a good, close elbow like Shang, or the low elbow they gave to Kang and Cage. Give him good priority sweeps, too, like Shang but with better range. Rush down = lock down. He could cancel jump ins with a hatchet (combo opportunities) or shadow shoulder. I'd love playing this.
How hard would it be for somebody who does this type of thing to simply reprogram MK2 with 4 or 5 new people and slightly alter the characters that are already there? I mean, you only need to steal MK3 frames to add guys like Nightwolf or Kano. As long as you get the sprites the same size (and adjust the hitboxes accordingly), I honestly think someone could do this.