The big news is that the game will feature a new "Quarter Match" mode. This is designed specifically for the Live version. It uses a "spectator-based system" in what's meant to be a tribute to the game's arcade roots. It will allow players "to use a 'virtual quarter' to 'buy into' heated two-player matches." What does this mean? Essentially, it's a bit like putting a coin on the arcade machine to stake your claim for the next match. You can also select other players' quarters to check out their gamer tag data and add them as friends.
Before you enter the game lobby you'll have two options. There is "competitive", where all the stats are tracked, or "casual", where stats don't matter and are not kept. Once you're in, you can watch brawls as you wait to take on the winner, and use voice chat to discuss the proceedings or comment on another player's ability. You'll have various options for setting up battles - Quick Match lets you jump straight into the action, while Create Game lets you invite friends, adjust game settings and host matches. Optimatch uses filters to set up the best possible match based on things like number of rounds, turbo speed, chat and friends only options.
There will be four different leaderboards in total. "Overall" showcases the best players from around the world, as determined by a points system. "Monthly" uses the same system to work out who the top fighters of the past 30 days are, and "Best Character" shows rankings according to who is best at playing as each fighter. And finally, "Consecutive Wins" displays who's won the most matches in a row.
Whilst offline, you can select the Arcade Mode for a single-player Street Fighter experience that ends up with you facing off against the final boss. There's also a Vs. Mode, Training Mode and CPU Battle option, and you can adjust the control system to your liking.
You'll also be able to download a free demo version of the game which will feature two playable characters for one match. The full version will let you choose from eight original characters along with four bosses, each with their own special endings and home levels.
Interestingly, the 360 games that have been getting the most critical praise have been the ones that are available on the Xbox Live arcade. Depending on the price, this latest addition could not only be a reasonable purchase but it could pave the way for other similar titles. Street Fighter II Hyper Fighting is slated for an early 2006 release, but it is unconfirmed whether it will be available when the Xbox 360 launches in Australia in March.

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