The mystery project Capcom, Sega, and Namco Bandai were rumored to be working on has finally been revealed.
Project X Zone is a strategy RPG for the 3DS, with characters from different franchises like Street Fighter and Virtua Fighter teaming up in pairs. Based on the information from Hachima blog (via Sgcafe), the characters showed off and announced for the Capcom side so far are Ryu and Ken, X and Zero from the Mega Man series, Demitri and Dante (Darkstalkers and Devil May Cry respectively), and Chris and Jill from the Resident Evil series.
The party members from the Sega side are Shinguji Sakura and Ogami Ichiro from Sakura Wars, Ulala and Touma from Space Channel 5 and Shining Force respectively, Kurt and Reila from the Valkyria Chronicles series, and Pai and Akira from the Virtua Fighter franchise.
From Namco Bandai's stable, players will get to use Sanger Somvold from Super Robot Wars, Jin and Xiaoyu from the Tekken franchise, Kos-Mos and T-elos from Xenosaga, Yurie and Estelle from Tales of Vesperia, and Black Rose and Kaito from the .hack franchise. Based on the screenshots from the above link, the game may be emulating the combat system from Super Robot Taisen OG Saga: Endless Frontier for the DS. A trailer for the game will be up this month.
The last time Namco Bandai and Capcom teamed up for an RPG was Namco X Capcom back in 2005. The PS2 game received average reviews in Japan, but was the top-selling title during its week of release at 87,223 units. The game was never released outside of its native country.