2D fighting with 3D graphics. Hopefully done better than SF EX's floatfest.

Also, judging from the first screen of Ryu, I really hope capcom doesn't do jiggle physics on the dicklike area. I like my fighting games without male bulge, kthx

From magic box:

"Capcom revealed some new details of the arcade fighting game Street Fighter IV:

* The producer is Yoshinori Ono, who worked on Street Fighter Alpha, Street Fighter III and Capcom Fighting Revolution
* The game will have online modes
* The game will use toon-shaded graphics like in Street Fighter II
* The gameplay will be in 2D while graphics are in 3D, but the camera angle is fixed
* Capcom wants to bring as many characters back from Street Fighter II series as possible
* The story takes place between Street Fighter II Turbo and Street Fighter III
* The battle system will be more aggressive and focus more on attacking instead of defending
* A decision has not been made which platform the game will be on, the test version was build on PC
* Yoshinori Ono assumes the most suitable platforms to be PS2 or NDS
* Capcom is interested to bring the game to as many platforms as possible, no platform exclusivity "

PS2 or DS? Kinda late in the PS2 lifecycle, and there's no way DS could do 3D on par with those screens...