The update phase begins with suggestions from the players themselves.
Street Fighter IV ushered in a new era of fighting games on the current generation of consoles, selling millions of copies across the world and becoming a staple game at most fighting game tournanments. Throughout its run, Capcom released several updates to the game that added extra Ultra Moves, character tweaks, and expanded the roster to its current total of 39 characters. What would seem like the end of a games's run after being out for 4 years is far from over as Capcom announced that there will be yet another update to Super Street Fighter IV Arcade Edition.
Peter Rosas a.k.a. Combofiend posted a video up on Youtube making the announcement of the update and just how it'll work. Capcom is putting the players up to task in making suggestions for changes they would like to see for their characters by posting on Capcom-Unity's forum page. For the next 4 weeks, suggestions will be open for 10 characters each week until the entire roster has been covered. For the first week, Capcom is looking for suggestions on Balrog, Dudley, E. Honda, Guile, Ken, M. Bison. Makoto, Ryu, Sagat, and Sakura. The rest of the schedule can also be found in the forum.
As far as updates to the core mechanics of the game itself, nothing has been announced as of yet. But considering the huge lot of changes made to Street Fighter X Tekken's system, anything is possible at this point.