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Mega Man is dead...And this is NAMCO developing this, not Capcom. (even though Capcom and Namco are on really good relations...Hmmm.)
Capcom is even actively trying to kill Mega Man off because of petty Japanese corporate politics.
They want to give a giant middle finger to Keiji Inafune (Megaman's creator) because he left with a poor relationship with the higher-ups still sitting on the table. He left because he was sick of getting the bullwhip and slaving away for Capcom with no real bonuses or incentives for helping create great games. This is like what would happen if Nintendo did not give Miyamoto the respect, resources, and pay he deserves.
How is Capcom trying to off Mega man? Let's see:
Canceled MML3 under the guise that it was the francise's fan's fault, put a mocking parody of Mega Man in Capcom X Tekken, canceled Megaman online, have no plans for ANY new Mega Man games, and they silently refused to put Mega Man in MvC3.
So, who loses when Capcom tries to "get back" at Inafune by dumping Mega Man altogether? Only fans of Mega Man.
Annnnyyywaaayyyss...
You can probably look forward to seeing a few tekken characters or Pac-man in the new Smash bros though.
Pac-man is HIGHLY likely since Nintendo has worked with Namco in the past with the arcade MarioKart games (which included Pac-man and the ghosts.)
You can probably bet Solid Snake is also going to return.
I think Namco still makes decent games, not as good as they did with Tekken 3 or the original SoulCalibur or Tekken Tag 1, but still decent. I'm looking forward to what this game is going to be like and pick it up along with Tekken Tag 2.
They better bring Mewtwo back- he was my favorite character with his super crazy damaging charge-up physic ball. His movelist was fantastic. If not, just keep using Falco.