Capcom is veering away from the standard 6-button configuration of traditional fighters leaving no differentiation between punch and kick buttons. Instead, based on all the interviews I've watched, TvC will use 4 buttons: 3 attack buttons (1 light, 1 medium, 1 high) all 3 of which control punches and kicks, and 1 assist/tag button.
Like Smash where 1 button controls all physical attacks, TvC will be be doing something similar, the only difference being you have 3 buttons that simply determine the strength and speed of the attack.
Hope that made it clear, if not, check out some of the E3 09 interviews where they discuss it a bit more.
I just think its interesting and was curious to see whether or not VS. Series fanboys (and girls) thought it would take away from the game, or maybe make it better. It's obvious Nintendo's mantra of "Gaming for Everyone" is being taken into consideration with these minimalist controls. How would something like this effect TvCs reputation in the competitive gaming arena?