Back in July 2010, Capcom producer Yoshinori Ono quietly revealed plans for a revamp of Street Fighter III: Third Strike, noting that it was "not going to come out in the immediate future." At E3 this week, Capcom finally gave the game its grand formal announcement.

Street Fighter III: Third Strike Online Edition is slated to arrive some time this year on Xbox Live Arcade and PlayStation Network, priced at $14.99 (1,200 Microsoft Points).

It'll boast a spectator channel broadcasting "a continuous live feed of the best match being played at any given moment," which you can watch with your chums. There'll also be online leaderboards, matchmaking, the ability to upload replays direct to Youtube, a new UI, and various filtering options to tart up the old graphics.

"Utmost care was taken to maintain an arcade perfect experience and preserve the deep gameplay system that has become revered as one of the most sophisticated in the fighting genre," Capcom's fact sheet notes. The GGPO networking tools are being used for online multiplayer, which Capcom says allows for "pixel-perfect arcade play online."