Easily the best fighting game in recent history.
I remember pumping quarters into the Street Fighter II arcade box at my local convenience store way back when it first came out. I loved it then, and I love this version even more.
Graphics - Let's get this out of the way. This game simply looks beautiful. Great artwork, and amazing little details that just make all the characters feel alive. From the impossible musclulature of all the characters, to the little details (like Ken's arrogant little smirk) this game just looks perfect. The fact that you can use the old school sprites is a nice touch, and I find it hysterical how skinny Sagat used to be.
Sound - Great remixed soundtrack. Very high energy and it sucks you right into the game and keeps you pumped up all the way through.
Control - Here's the only issue. The PS3 controller clearly wasn't designed for 2D fighting games. The analog stick a little too loose and the D-pad is too unresponsive, but it's certainly managable. The only time I have real trouble is with Ken, Ryu and Sagat, because sometimes I'll end up hitting the wrong controller sweep and do the wrong move. We need an arcade stick!!!!
Gameplay - First, I'm not a pro fighter player, and I won't pretend that I'm particularly good at this game, but I'm alright. This is not for a casual player. The computer is pretty tough most of the time, and for some reason I can seldom beat T-Hawk unless I use a tank like E. Honda. Not entirely a bad thing, because it lets me cycle through the entire roster often enough that I don't feel like I have 17 characters but only 2 of them. I'm pretty badass with Cammy. It actually feels a little unbalanced because I find M. Bison to be ridiculously easy to beat, but T. Hawk, Sagat and Vega often give me trouble, but M. Bison is only one fight. There's some little things the computer does that bother me, like Ryu getting distance and just firing Hadokens over and over ad naseum, but the game always did that, so it's not a big deal. Akuma is a great addition to the roster too, so that's a nice little gift from the programmers.
Overall - Do you like fighting games? BUY THIS. Amazing game through and through, and it's getting me really pumped up to play SFIV when it comes out. I do miss Sakura though. I'm REALLY badass with Sakura.