Capcom has just released the launch trailer for Ultra Street Fighter IV, and it’s a pretty wicked testament to the fighting game community that is definitely thriving right now.

Featured above, the launch trailer shows off the new characters, the new mechanics, and of course – some of the rebalancing. The main thing to take from this trailer, however, are the shots of the fighting game crowd as they cheer, jeer, and ultimately create the scene where legends are born.

Ultra Street Fighter IV will come first via a $14.99 digital upgrade for existing owners of Super Street Fighter IV or Super Street Fighter IV: Arcade Edition. The upgrade is coming to North America on June 3rd for the Playstation Network and on June 4th for Xbox Live. In Europe, the upgrade will be coming to both platforms on June 4th.

If you’re waiting to finally get Street Fighter IV (what’s taken you so long?) on disc, you’ll be able to grab one of those on either PS3 and Xbox 360 on August 5th in North America and on August 8th in Europe. The download version of the full retail version will be hitting the Playstation Network the same day as well.

Unfortunately, our PC enthusiast readers will have to wait for the digital upgrade and full version on PC, which are both coming on August 8th in North America and Europe.