Very good news and is ANOTHER example of misinformation:
1. Free 2 Play (each character is sold separately)
2. The complete version of Killer Instinct
3. Collector's Edition.
F2P for the people that are intimidated by fighting games and this way they can try it out. I have plenty of buddies who kinda disliked it being F2P and for them there's the complete version or CE.