Source: NeoGaf

Answering some of the questions that came up here and in earlier threads.
All cutscenes are rendered in real-time using UE4 engine. There are no pre-rendered, pre-recorded footage here.
Per yesterday’s announcement, there are five main chapters. Each chapter contains several sub-chapters that’s further broken down per event/encounter/cutscene. You’ll be able to select any sub-chapter from the chapter select menu upon completion. For example, if you want to experiment with ‘Rog or Juri’s move set again, you can jump right back into that segment.
Difficulty – there’s normal and ‘new game plus’ hard difficulty mode. The latter will be unlocked after you complete normal difficulty. Normal should be a breeze for anyone experienced in Street Fighter, and this is by design. We wanted everyone, and I mean everyone including first time SF players, to experience the story ’til the end. The production value put into this mode I think is certainly worth it, and we’d want every player to experience it. Though I will say the latter boss encounters can become a bit challenging as the AI difficulty will increase a bit. “The Baby” might struggle here too. (Shhhh…I’m a scrub. I had to retry certain segments like 3 times ^^;)
The real challenge for you guys/gals here will be the extra difficulty mode. The AI ramps up significantly right from the get-go. I would consider this the main mode for experienced SF players. Expect lots of retries!
Correct. VO is selectable between English and Japanese through voice option. It’s integrated into the VO menu that is also used for the prologue story.