Capcom's confirmed Street Fighter IV's Championship mode as a free download on April 24.
In a nutshell:
The tournaments offer a new take on classic SFIV competition. They are broken out into 5 different levels, which means everyone can participate and find a good challenge without getting blown out of the water or bored. You score Grade Points (GP) for tournament wins, and as your GP total grows, you’ll become eligible to enter into more exclusive tournaments. Winning tournaments will also net you Championship Points (CP). The CP work basically like “prize money” up for grabs in the tournament. The higher the GP skill of the players in a particular tournament, the bigger the CP prize!
There's tons more through there.