Don't know if this is Nintendo news per se, but I hope this'll come to the Wii U as well!
UPDATE (10:30 am):Famitsu has released a variety of screenshots for Project X Zone. Check out a few of them below.
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UPDATE (9:30 am): Some new details have surfaced regarding this mysterious strategy RPG. The news comes from an interview with Namco Bandai's Kensuke Tsukanaka by Japanese magazine Famitsu (reported by Andriasang). Each character (check out the original story below for the confirmed roster) will have moves that fans will recognize from their specific games. For example, Ryu and Ken can perform the Shoryuken as well as, presumably, the fan favorite Hadouken move. X and Zero will have moves involving their X Buster and Z Saber respectively.
It was also noted that the character list is not final. Other characters, including hidden characters, will purportedly be included as well. Some of the characters that may not lend themselves well to strategy RPG style combat will still fight, but in a way one would expect from that specific character.
During the interview it was also revealed that Namco Bandai got the ball rolling by approaching Capcom to discuss making a game that mixed characters. SEGA was apparently brought into the project soon after.
Capcom's Tatsuya Kitabayashi and Sega's Yasushi Yamashita were also present during the interview, during which Kitabayashi stated that he and Azura's Wrath producer Kazuhiro Tsuchiya are overseeing the project on Capcom's side. Famitsu's story claims the game is 50% complete, and the developers are aiming for a 2012 release in Japan.
ORIGINAL STORY: Three of the biggest publishers in Japan have united for a new project for the Nintendo 3DS. Titled "Project X Zone" (with the X pronounced as 'cross'), Sega, Capcom and Namco Bandai are each contributing some of their biggest, most popular characters for a new strategy RPG.
Only a couple details have been revealed in the pages of the latest Famitsu in Japan. The magazine reports that each company's set of characters will operate in pairs during battles. The list of participants (so far) is as follows:
Ryu & Ken (Street Fighter 0)
X and Zero (Mega Man)
Demitri and Dante (Darkstalkers, Devil May Cry)
Chris and Jill (Resident Evil)
Shinguji Sakura and Ogami Ichiro (Sakura Wars)
Pai and Akira (Virtua Fighter)
Kurt and Riela (Valkyria Chronicles)
Ulala and Touma (Space Channel 5, Shining Force EXA)
Sanger Somvold (Super Robot Wars)
Jin and Ling Xiaoyu (Tekken)
Kos-Mos and T-elos (Xenosaga)
Yurie and Estel (Tales of Vesperia)
Kaito and Black Rose (.hack)
That's all we know at this point, though a trailer is due in the coming weeks. No Japanese release date, nor information about any sort of global release, has been made available. Stay tuned for more details as we hear them.