[size=15]Tatsunoko vs. Capcom Update (10-12-2009)[/h]
Time for an update. 2 new characters have been announced for the release. For the Tatsunoko side they have announced that Tekkaman Blade (Tekkaman Blade) will be added and for the Capcom side they have announced that Frank West (Dead Rising) will be added.
You can find them in this recently new trailer from TGS 2009.
Also, Hidetoshi Ishizawa admitted that, just as Cross Generation of Heroes was not initially planned to be released internationally, neither was Ultimate All-Stars planned to be released in Japan. Fan appeals and the R&D teams own hopes eventually resulted in the announcement that the updated game would come to Japanese shores as well.
Recently Seth Killian announced that there will be more characters to be announced soon, speculating that Final Fight characters may be announced.
I personally would like to see either Dean, Mike Hagger, Lucia, Maki, Guy, or Cody added to the mix.