Despite the western media focusing on SFIV, Arc System works new Arcade project Blaz Blue (Blue Blaze) built on TaitoTypeX2 hardware [http://www.typex.taito.jp/] is coming to PS3 and looks like a spiritual successor to Gulity Gear. Kind of retro that 2D fighters are still made. Looks slick, cool and better than the 3D Guilty Gear Game on Xbox360.

Japan Article: gigazine.net
Offcial site [http://blazblue.jp/]

Gameplay video: