It was a joke, as he's all definitions of impossible (Genesis and all...unless he appears suddenly on VC in Japan!) But he would effing rock. He had all these electric things and he...aww man, it was a cool game. Note that the way Sakurai interpreted Volt Tackle for Pikachu's FS is a helluvalot like Pulseman's signature move, and Pulseman WAS made by Gamefreak, creator of Pokemon. AND apparently Gamefreak keeps putting references to Pulseman in Pokemon.
...Anyway...
I still think that Megaman's chances are questionable if Capcom's thinking about putting another Capcom Universe fighter out on Wii, but I'd like to see him in the game. (I just hope he's really different from the way he appeared in MVC, if he shows up...)
Edit: Apparently, Pulseman HAS appeared on Japanese VC... And note, since Gamefreak made the game, and they work for Nintendo now, the character is probably actually somewhat legally in their jurisdiction... I...should I make a thread or something, what?