Fighting games rarely have a plot, so Capcom had to jack one together quickly. M. Bison and his jerks want to take over the world, and Ryu and Ken have to stop them. I get the feeling that half-an-hour of decent plot was forgotten about.
The animation, on the other hand, is excellent, and the only problem is that all the way through the film, muscles are emphasised hugely.
It seems that Capcom tried to include all the characters from the games, even the ones that no-one gives a dog's toss about. Unfortunately, they come in for a two minute scrap and one or two lines, and are never seen again. What you need to pay attention to are the four main characters - Ryu, Ken, Guile and Chun Li.
While SF2 might seem like a must for kiddy fans of the game, you parents had better think twice. In the unedited version, there are vast amounts of blood, and Chun Li is shown having a shower, before fighting Vega half-naked. There is also a lot of hard-core swearing, not just the mild stuff that your kids learnt off you.
There's a lot of opportunities to read between the lines in SF2. Ryu and Ken have constant flashbacks about each other, and I get this constant feeling that Guile and Chun Li have something going together - partly because he doesn't run her over, partly because he nearly cries when he thinks she's dead, and partly because of that huge hug she gives him in hospital.
Still, to the fans of Manga, anime and SF2, if you don't mind the adult content and thin plot, this is a must-buy.