EGM has a cover story on SF4 coming up, and Wired has an article about it already.
Basically the idea behind the game's development is that fighting games have turned into an unhealthy niche genre with increasingly angry fans, and weaker sales due to low accessability. Anyone could pick up SF2 or one of the first Tekkens or Virtua Fighters, but they've been getting ridiculously complex over the last decade, and require huge amounts of effort to become rewarding. With Street Fighter 4 the developers intend to bring back the magic of the second part, where you can learn the basics in half an hour, but keep learning forever.
This sounds incredibly awesome to me. I've tried playing some of the later Street Fighter games, but they were really hard to get into, and I had no idea what was happening. I have a feeling this part will bring a lot of people back to the franchise.
There's also a link to a forum post linking to a GAF topic, but it doesn't seem to work. It contained a bunch of whining about "dumbed down" game mechanics, and a list of Famitsu stuff that included how the platforms haven't been decided yet, and they're considering even a DS and PS2 version. In other words, SF4 for the Wii practically guaranteed.