I'm playing on PS3 - love the game, just like sf2. I'm glad they didn't go nuts trying to change a known good thing.
I have 5 more characters to unlock to make the online play more fun.
I have Cammy, Rose, Gen and Sakura. I need to get Dan,Gouken, Akuma, Fei Long, and Seth.
I started by beating the game on "medium" Arcade mode and got pretty far, eventhough Seth is a cheap shot boss(repeats same moves over and over and over). I was looking online to find how to unlock all the extras - and found out that if you put difficulty on "easiest" and switch from 3 rounds to 1 round matches - you can cheap shot your way through arcade mode and get most of the goods. I have done this for a few players that I have no skill with(C. Viper, in particular).
The online play is good, reminds me of being at the arcade 15 years ago with my quarters holding my spot.