Ready for some good news?  Some free news?  Capcom is bringing new options to Street Fighter IV with an eye towards serious players.  Street Fighter IV’s new Championship Mode update expands on the fighting fun by offering players the chance to compete in tournaments and to watch replays of the best tournament matches.  Best of all: it comes to you at no cost!  The Championship Mode update will be available for both PS3 and Xbox 360 owners on Friday, April 24 (times TBD).

Championship Mode offers you the chance to compete in 5 different grades of tournaments, creating the right challenge for players of every skill level.  You’ ll 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).  CP are 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!

Replay Mode allows you to select and watch the best Championship Mode tournament matches.  On Xbox Live, instead of rating the matches, you can choose to download and save your favorite replays to study the players’ techniques.  You’ll also be able to turn on the input commands from both players to be able to review their button and joystick motions in precise detail.

This Friday should be fun!  Get more scoop on it over at Capcom Unity.