http://www.yuginewz.com/2011/02/yu-gi-oh-1st-march-2011-banlist.html

If you don't want to follow the link, it's to a supposedly leaked version of the March banlist. It goes as follows:

Banned: Goyo Guardian, Cold Wave, Mass Driver
Limited: Book of Moon, Dandylion, Gateway of the Six, Honest, Blackwing - Kalut the Moonshadow
Semi-Limited: Solemn Warning, Debris Dragon, Card Trooper, Archlord Kristya, Spirit Reaper, Royal Tribute, Overload Fusion, Megamorph, Icarus Attack
Unlimited: Skill Drain, Gold Sarcophagus, Chaos Sorcerer, Demise, King of Armageddon, Snipe Hunter, Dewloren, Tiger King of the Ice Barrier, Ultimate Offering

I don't know if it's legit, but it is a start of a discussion.

First off, what do you think of the status of the pictured cards (Goyo, Cold Wave, Book, etc.). I mean, I don't read Japanese, so I can't comment on the accuracy of the other cards listed.

Then, what do you think about them (The other, purely speculative banlist)?

Finally, what do you think the March banlist should be?

Goyo Guardian
I don't really think this is bad, Exceed would be OP and it steals Monsters. I don't use it quite often anyway.

Cold Wave
Always hated it, it's good that it'll be Banned.

Mass Driver
Against OTK Decks, they are just to easy.

I don't know if it's confirmed but it looks good, some odd decisions but overall good list for the next format.

Honest
It was ok at 2, not OP and I think it shouldn't be Limited.

Dandylion
Uhh.....my Main Deck getting crippled isn't cool...

Blackwing - Kalut the Moon Shadow
BW Honest, obvious if Honest is getting Limited too.

Book of Moon
Control card, I like it but yes it's really powerful, I think it's good at this.

Gateway of the Six
No comment, great decision.

Card Trooper
Amazing, with Dandy Limited we need something to back it up.

Archlord Kristya
Shouldn't it be Banned?

Spirit Reaper
Doesn't see much play anyway.

Debris Dragon
Another main card in my Main Deck getting hit, god I really gotta improvise for it...

Royal Tribute
Obvious to stop the OP plays of GK.

Overload Fusion
Really didn't see Cyber play this format, good decision(for me^^).

Megamorph
Would be cool to use this in several Decks again like Life Stream builds.

Solemn Warning
Don't think it'll have any impact when going to 2.

Icarus Attack
Kinda sad for some Decks but good decision.

Chaos Sorcerer
Uhhh......this is a crazy decision, it's a OP card once out and I think it's just fine at 2(funny that I saw it at 2 then at 1 then at 2 and now to 3 in the time I've been in KC).

Demise, King of Armageddon
Was OP but much better cards these days.

Snipe Hunter
Good card to Main and Side, I think it'll see much play.

Dewloren, Tiger King of the Ice Barrier
Never knew why it shouldn't be Unlimited.

Gold Sarcophagus
We have Duality...

Skill Drain
Yeah maybe not a to smart decision but ok.

Ultimate Offering
Been waiting for this one for a while!

Overall I like the list, I think some things should be changed but no list is perfect. Is this confirmed anyway?

Banned:
Goyo Guardian: It's okay. However, I think that he should bring his friend with himself called "Brionac", since "Brionac" is just more broken than this. "Brionac" is the worst card created EVER.
Cold Wave: It's okay, I can understand that they want to create a format like in animes, with a lot backrow fights.
Mass Driver: OTK decks are dead. A lots of cards were banned because of this card, but... why did they can't ban this instead?!

Limited:
Book of Moon: It's powerful, yeah, but it's just too staple and too OPd to able it 3. However, mill decks are dead in next format.
Dandylion: Finally! I hate Quickdraw/Plant Synchro Decks. I hope they'll be dead with these limited and debris semi-limited. Maybe they should also limit the Lonefire Blossom.
Gateway of the Six: I totally understand it. It's more broken than the whole Six Samurai Deck.
Honest: In 1 it'll be useless. Or, maybe just not-so-useable. But I can agree with it, Gemini City got is own weakening.
Blackwing - Kalut the Moonshadow: Same.

Semi-Limited:
Solemn Warning: When I said that it'll be semi-limited, nobody believed me. Some of them said that everybody already use 2 (however, it's not true: in main tournys everybody used 3)
Debris Dragon: Same, like Dandylion. Maybe it should be limited.
Card Trooper: It's okay. I can see that they want to make a Machine format (Machina, Karakuri are still untouched and even Chimeratech OTK gave back its polymerization as semi-limited), and it will be an useable staple for these Decks. Maybe Rat Toolbox can be built again.
Archlord Kristya: It won't get ban, but I totally agree with 2, especially that now it's common in OCG (and will be in TCG) because of the Structure Deck. So everybody can get now they own Kristya.
Spirit Reaper: It's okay, stops easily swarm and beatdown Decks.
Royal Tribute: I agree with it, but 2 in 2 it's also playable.
Overload Fusion: As I said, another Machine-Type Deck get back its own Key card.
Megamorph: C'mon, did anybody use this card or will use?
Icarus Attack: It's okay. Harpie and Mist Valley is a bit slowed, but BW is slowed again.

Unlimited:
Skill Drain: Finally! I got it back. Now some of my old conceptions will be more stronger.
Gold Sarcophagus: It's okay, especially for Chimeratech OTK decks it will be useable.
Chaos Sorcerer: Twilight Deck is a bit stronger now. Even not broken.
Demise, King of Armageddon: I like this card and it's ok to be unlimited. However, maybe it's a reason to run Megamorph, since you use its effect, activate then Megamorph, and it can attack a lot.
Snipe Hunter: Now it's not so annoying, and it's also risky. Fine as unlimited.
Dewloren, Tiger King of the Ice Barrier: I never understood why is it Semi-limited... maybe they realized that nobody things that this card is broken... to be honest, I never saw a person used this card.
Ultimate Offering: I understand this, but beware: it'll be broken when Exceed Monsters are released!

Forbidden:
Goyo Guardian
-Ok cool, makes some space for other cards in my extra deck since I didn't like how OP this guy was anyway.

Cold Wave
-Everybody called it.

Mass Driver
-Ah. Ok.

Limited:
Honest
-Well, I hate Honest so I don't mind that so much.

Dandylion
-Everybody called it.

Blackwing - Kalut the Moon Shadow
-Honest2 so same opinion, w/e. Won't hurt BWs that hard since now they can replace it with better cards.

Book of Moon
-Didn't expect it to be limited, oh well. Big plays will be more popular and people might start using BoM like they should.

Gateway of the Six
-I called that months ago in one of my videos.

Semi-Limited
Card Trooper
-Cool actually.

Archlord Kristya
-Meh, wanted her Banned and forgotten. Better than a kick in the nads I guess.

Spirit Reaper
-Hm, 1 was ok. Now people will need to waste even more cards to get rid of him.

Debris Dragon
-Take that Plant Synchs.

Royal Tribute
-Ok w/e.

Overload Fusion
-Miracle Fusion for machines. Not much of a problem anyway.

Megamorph
-k.

Solemn Warning
-Well it was kinda expected, there wasn't THAT much decks using 3 warnings anyways.

Icarus Attack
-Another jab to BWs, takes more than that to KO them.

Unlimited:
Chaos Sorcerer
-Ah. With an effect that good and BoM limited? What's up?

Demise, King of Armageddon
-OooOoo I'm scared of wannabe-JD

Snipe Hunter
-Sure, it doesn't matter.

Dewloren, Tiger King of the Ice Barrier
-Ah ok.

Gold Sarcophagus
-Well that's good.

Skill Drain
-Beast king decks n stuff will probably become more popular.

Ultimate Offering
-Sure.

EXTRA:
Monster Reborn
-Why didn't they touch this card?

I guess I'll throw my 2 cents in too...

Goyo Guardian: Not bad. I'll have extra room in my Extra Deck now. Also, we'll start seeing Gaia Knight in competitive play!
Cold Wave: Yes. It needed it.
Mass Driver: This should've been done a while ago.
Book of Moon: This is interesting. I wonder what people will come up with to replace it. I wish I hadn't just bought a playset...
Dandylion: As frustrating as this is for Plant variants, I think it is probably needed. The Dandy plays made it a bit too easy.
Gateway of the Six: Yes. Definitely.
Honest: I guess this is a determined effort by Konami to get rid of this type of monster. It will still be a staple for Light Decks, though.
BW - Kalut the Moonshadow: It fits with Honest, but I didn't see this coming. My question is, why didn't they semi this when they semi'd Honest?
Solemn Warning: Kind of silly. But ok, I guess.
Debris Dragon: This probably needed done, at least as long as the Plant engine exists in some form and BRD is at 3.
Card Trooper: I guess I can reimagine some of my Machine Duplication deck ideas. On a more practical note, this isn't a bad idea. It just shouldn't be at 3.
Archlord Kristya: This card is REALLY annoying, but it hasn't made much of an impact on competitve play over here yet. Maybe the new Fairy Structure Deck will be that good.
Spirit Reaper: This does make sense. It's not as good as it once was.
Royal Tribute: This needed done, although Royal Tribute plays will still be common as long as Duality is at 3.
Overload Fusion: Oh boy. That's all I have to say about that.
Megamorph: I love me some OTK's.
Icarus Attack: Man, BW's getting some serious hate. Are Dragunities and the new BW's really that good?
Skill Drain: About time.
Gold Sarcophagus: Never quite understood why this was Semi'd in the first place.
Chaos Sorcerer: Good move. Not nearly as OP as it used to be, and running 3 is probably not practical anyway.
Demise, King of Armageddon: This is asking for problems, methinks.
Snipe Hunter: Fableds and perhaps Infernity don't mind, but this doesn't make much of a difference.
Dewloren, Tiger King of the Ice Barrier: Only semi'd because of Mass Driver. I wonder when Substitoad becomes unbanned after some fashion.
Ultimate Offering: Hm. Makes Gadgets and the R-Genex loop more playable. Doesn't hurt, I don't think.

Not bad, although some of the moves are interesting. I'm sure we'll all figure out ways to abuse this new list just like we have all the ones before it!

I've already replaced my BoM with Forbidden Lance. Pretty good.

Smart choice, it can do a part of the job that Book did it only doesn't recycle FLIP Effects or change battle position but it's good to chain to an attack or a card.
just checked, Forbidden Lance isn't in VDS.

Luv it... bws kinda less powerfull, also light stun and plants. Meta has been hurt. But I want darksould semid or faultroll.

Basically at this point it's going to be X-Sabers format to lose. I mean, the same old same old will be in the running, and at least a couple of new things will show up (Nordic? Dragunity? Karakuri? Psychic?), but the success of any other competitor will depend on whether it can beat X-Sabers.

Did I mention I don't like sabers... -.-

Well probably Karakuri will be Meta.

Don't forget that anti-meta in the beginning of the format will be better than anytime. They just got back their support (Skill Drain) at 3, and it wasn't hurt. Even they got 2 Spirit Reaper!

Maybe Twilight/Chaos will be strong again: 3 Chaos Sorcerer is just awesome.