It would be set in modern-day or even sometime in the future...doesn't really matter.
Latios would be like the main dude or whatever that's called. Protogonist or something like that. He would be level-headed and try to be funny at times but really isn't.
Dhampy is the evil mastermind who wants to correct all the world's misunderstandings of historical events through a brainwashing machine.
Hyper is Dhampy's minion who makes puns and messes up all the time and usually ends up helping the good guys inadvertently.
I'm one of the good guys. I guess the best way to describe myself is Latios' sidekick but not really because I end up doing my own stuff and helping Latios at times and sometimes screwing up and not caring. I guess a freelancer then...
Petray is one of those good guys who don't give a **** and do whatever the hell they want to do regardless of the circumstances and Latios seeks his help at times. Petray also always makes inappropriate jokes which are really funny and is an alcoholic.
And I guess since Nick turned out to be a bad-guy in the comics you'll be a bad guy who helps Dhampy in the movie.
EternalSlayer is that guy who is never around when people need him to be there (such as backup in a fight scene) and is always around when he is not needed and therefore, is basically useless throughout the entire movie.
JJ is the damsel in distress.
Airhead is the magical wizard who lives in the mountains who tell the heroes how to defeat Dhampy after they were unable to defeat the first or second time...he might even join them on their quest to take Dhampy down.
Dstates and Neo could be other good guys who help the heroes in their quest. Maybe even one of them could be a double agent for Dhampy.
PWizard, Nev and Cal are the writers/directors/producers, etc...