How, or can an ACharacter class be extended to be used in Unreal Engine character objects

Let me get this straight. Am I correct into assuming that you want the editor to use your character class when you select create blueprint and then select the character from the common classes list?

If so, that seems like a major waste of time. Just create a new blueprint and select your character class from all classes, below the common classes window. Sure, it takes a few seconds more, but I reckon you will waste those seconds anyway trying to reconfigure the common classes.