They only announced the game just now. So seeing it come out in 2016 or 2017 would still likely be the case. As for graphics, I can tell the difference. But the most major change is more so in artstyle rather than raw graphic power.
Here's an example of Ryu from SF4 to Early SF5. The art style change is really noticeable in the face.
And Chun-Li. Again, the graphics are improved, but it's mostly the artstyle that works better.
I can understand if someone isn't really into street fighter is underwhelmed by this announcement though. I was hoping for DMC or, Especially Mega Man if we were really lucky. But I'm keeping an eye out for this game and Tekken 7.
Other than that,I hope to see some news on Mighty No. 9 soon. Mostly with the 3DS version. We reach and surpass that stretch goal. But I don't think I've seen any footage of that version.