1. Be considerate to other players. Punch-Out!! is based on dudes hitting and trash-talking each other, which is fine if it's in character. But outside of that, no arguments allowed, no drama allowed. If you have a problem with someone, take it up with them elsewhere.
2. Keep it PG-13. The content of the RP is intended to be all-ages friendly, just like the games, so keep it that way. If you have a question about whether or not something is appropriate, just ask a mod.
3. No godmoding. Some boxers are better than others, this is a fact, but don't be ridiculous about it. Similarly, if there are unusual circumstances regarding boxers, like if someone's going to cheat or if they've been trying some new techniques, make it believable and clear it with other players and mods beforehand.
4. No slash. This is a continuation of rule #2. Ambiguity and jokes are fine, but don't kick it up any higher than that, please. If you want Punch-Out!! slash, look for it (or post it) in the sister community wvba_oot.
Records and Rankings This is also an excellent at-a-glance list of taken and free characters, and contains the "friend add" coding for new journals. If you're interested in apping characters, make this your first stop!