From what’s being said it sounds an aweful lot like a mix between SFEX and TTT…
“The gameplay demo had Ono-san facing off with the producer of Tekken for a demonstration of the fight. Names are escaping me. The gameplay showed that it looks like the characters can tag each other during Ultras. The one displayed show Ryu and Chun-Li teaming up to take down a Tekken fighter (sorry, not a big Tekken fan so the names are not coming to me). But yes, Frank is running off to find a good internet connection to upload the gameplay demo.”
From the looks of it, it looks like SFxT will play more like SF4 (and look like it too), it seems the SF4 engine is flexible. (Flexible enough to run a Darkstalkers game with it heh)