It's going to be a 2d fighting game. It doesn't need 'next-gen power'. This is coming to arcades in Japan first according to the article.

Depending how it is, I think it might be released first (in Japan) for PS2 and Wii--like GGXXAC. If/when it comes to America, it will likely come for the 360 as well. Capcom likes the 360.