I'm back! And really tired of making Speed Force angels for the past year!
The Flash
Wally West
Power Level: 12 (188pp)
Abilities: STR: 14 (+2), DEX: 14 (+2), CON: 14 (+2), INT: 14 (+2), WIS: 12 (+1), CHA: 12 (+1)
Skills: Computers 4 (+6), Investigate 4 (+6), Knowledge [Physical Sciences] 8 (+10)
Feats: Attack Focus [Melee] 2, Dodge Focus 10, Elusive Target, Evasion 2, Fast Overrun, Improved Initiative 6, Move-By Action, Quick Change
Powers:
Concealment 4 (visual; Flaw: Limited [while running, otherwise Displacement; -1/2]; 6pp)
Immunity 7 (Need for Sleep, Speed Force-related Trait effects, Starvation and Thirst; 7pp)
Protection 6 (6pp)
Quickness 20 (x5,000,000; 20pp)
Speed 20 (near light-speed; Power Feat: Moving Feint; 21pp)
Speed Force Array 16 (32pp)
Base Power:
Rapid Attack 16 (80-ft. radius; 0pp)
AP:
Air Control 16 (1pp)
AP:
Deflect 16 (slow and fast projectiles; 1pp)
AP:
Insubstantial 4 (1pp)
AP:
Nullify Movement 16 (1pp)
AP:
Strike 16 (Extra: Autofire [+1]; 1pp)
Super-Movement 3 (Trackless [olfactory], Wall-Crawling, Water Walking; Flaw: Limited [while running; -1]; 3pp)
Combat: Attack +6 / +8 (Melee); Damage +2 (Unarmed) / +16 (Strike, Autofire); Defense +16 (+3 flat-footed); Initiative +26
Saves: Toughness +8, Fortitude +6, Reflex +16, Will +4
Drawbacks: Involuntary Transformation (Dimensional Movement into Speed Force, when Extraordinary Effort used on Speed Force powers; Uncommon, Major; -3pp)
Abilities 20 + Skills 4 (16 ranks) + Feats 24 + Powers 100 + Combat 24 + Saves 21 – Drawbacks 3 = Total 190
Complications: Enemy (Rogues), Fame (especially in Keystone City), Responsibility (wife and children)

I really dislike the construction of the Super-Speed power, particularly the excessive ranks of Improved Initiative; Wally’s six ranks are probably overkill as it is. For practical purposes, the ranks in Speed probably don’t need to be terribly high to be useful, either; in this case, I gave the Flash 20 ranks for descriptive purposes. I also decided against arraying Quickness with another power.

In addition, he has a separate Array to handle Speed Force tricks; this array is appropriate for most Super-Speed alternate powers as well as those suggested for Kinetic Control, reflecting the nearly universal nature of the Speed Force. Effects relegated to power stunts include Paralyze (completely removing all momentum from a target), Penetrating Strike (vibrating or phasing to impart damaging kinetic energy to an object), Boost Movement (sharing speed with another), and Sustained Regeneration (speeding up his or others’ natural healing factor). Wally’s Concealment has a Flaw on a Flaw (equivalent to a -1/2 modifier); when running, he’s completely invisible, but when he’s not running, he still retains Displacement.

Wally is unique among speedsters, even among the Flashes, as the first to mainline the Speed Force. Though he’s not as skilled as Barry in certain respects, he can perform tricks that most other Flashes cannot. Due to his unique connection to the Speed Force, Wally is also immune to any trait effects that would deprive him of the ability to access the Speed Force. If Wally uses Extraordinary Effort on any of his powers, he runs the risk of being absorbed into the Speed Force.
Update 2/12/08 
I totally removed the standard build using Super-Speed and streamlined Wally’s primary array to make Dynamic unnecessary.