I wouldn't mind the style so much if it wasn't so ridiculously out of proportion. It looks like they were attacked by head hunters.

That's the worst shot of the collection, RYU looks like he's hooting like a monkey, while Ken's face is just a mess.

Also their legs do look a bit strange...they're very out of proportion. The art style is interesting though, and as some people have already mentioned it is a long way off until release, so hopefully they fix a few things along the way.

The characters models aren't that bulky. The Street Fighter franchise went "bulky" with the Street Fighter Alpha series. The faces do need work IMO but the game is extremely early. I have the EGM issue and the only "finished" characters are Ken and Ryu. They are fighting on Chun-Li's background but its only 50% done. Chun-Li has been modeled and textures but she doesn't have all her moves. Dhalsim has all his moves but he model isn't complete. So everyone needs to relax a bit.

Well, I hope you guys are right that they change the faces before release.  As it stands, it looks like they are actually trying to make them look ridiculous.  Also, the old charcter models certainly do not look anything like this.  Even with Alpha, when they became bulky, they still didn't have monkey faces:

This is a completely different art style from the past games.  I'm glad some of you guys like it, but I hate it.  I really don't even want to know what Chun Li looks like. 

Soo..... Super Smash Bros FTW?!

it looks horrible but they can still fix it and i hope it plays good

I don't like it either... oh well this is what happens when they want to back to the basis...

hey, let Ryu exhale through the mouth! it's better too! :P

I believe it looks far better in motion, and if they are breathing it makes a little more sense.

 but ken's face looks stupid :P

 Well everyone that has played the game says that plays well. So that isn't really a concern for me at this point. I am more concerned with them fixing the faces and who is going to be on the roster.

This reminds me of when Wind Waker screenshots were released, and everyone exploded with OMG IT LOOKS QUEER! Then people saw gameplay videos, and shut the hell up because they realized how freaking awesome and beautiful the game looked.