Is this going to be released in 08' i am very much looking forward to this game...

I would say IF 2008 then late 2008, if not, early 2009.
I am also HIGHLY anticipating this game. Some say Soul Calibur IV will be bigger, however, I don't think you can compare Street Fighter and Soul Calibur, they are two very different types of fighting game. Soul Calibur IV is a 'buttonmasher' while Street Fighter is more of a thinking game. I will get Soul Calibur IV though which is coming out in precisely one week. I am pretty dang pumped up for it although i've heard that the online mode is laggy.

I am hoping for SSF2T HD Remix (long title) to come out this holiday, and then have SF4 come out 2009. As long as they take their time and do it right,  I would wait until 2010. :)

New info!