I think they'll be going for a slight more cartoonish style as well.
I thought the new Street Fighter looked cool as well.
Street Fighter isn't that great until you get to the characters added in Super and SFxTK. A lot of the Vanilla cast look simply weird when you get to looking at them. Chun-Li's manhands and to a lesser extent face, Abel's steroid-injected biceps, Viper's burger ****, Blanka's stomach animating like it's all flab, Ryu and Ken's EVERYTHING etc. Super is a bit better, but they always have to give the barefoot characters big feet for some reason. SFxTK though, especially with the Tekken characters looked pretty good though Nina could've used a less pink skin tone and Lili could've looked a little less derp in the face. Part of the problem stems from them trying to emulate SF2 too much in the art style. Bengus' drawings simply don't translate to 3D models that well which is why the Marvel models were a vast improvement.
On a minor note, the artists for those games could never seem to make up their mind on whether a character has nipples or not (real random I know). Some characters have then while others don't. I'd like to see some consistency here.
For Smash's art style, I hope they go for more of a Final Fantasy or Tekken route in regards to details. Keep them animated realistically, but don't go turning Mario into a real life person at the same time - both FF and Tekken have a slight anime flair to them as can be seen in Lars and Alisa.