From the beginning, the VS series was one of the most daring games for the arcade era. Marvel and Capcom banked on the idea, with the first game Xmen - Children of the Atom, then X-men VS SF. Both were hit titles, knowing they were onto something the series continued. When MVC hit arcades it really floored the fans, and newbies alike.
What was good about it?
Fun music, design, characters, and intense match-ups. Few games could match its speed, or concept. Save a few that kept within its own universe like SNK's KOF or Midway's MK, etc..
Late's 90's comics were going through an evolutionary phase. Marvel was phasing out its old universe, and pushing to rewrite its history with a new MU. So crossing over opens up pathways and branching out new ideas. It was a push to sell comics, but more demand pushed for more content. MVC2 pushed the arcade + home systems with a roster of 52 characters. Before it was tag team, now its a a trio set of teams vs one another.
Now some years later, battles are forged once more as Galactus sets his sights on Planet Earth. Crossing dimensions the heroes clash to save the universe! (oddly enough this would be considered episode II, since more join in)
**My issues with the original release were:
A) The game felt broken, and unfinished
B) Unlocking characters took a lot more time. But you were limited, the rest were only unlockable by paying Live or Network points.
C) Using the "X factor" was a chore, half the time the system would not connect with combos.
All in all, the "Ultimate" edition throws all the gunk away, and gives the game a fresh coat of paint.
I can't say enough about this directors cut of the game. It is a more solid edition, which the original should have been. It is so complex, it is tweaked to ever test the best players out there. And man so many Comic Cons or game have tourneys just to see what top tier teams there are. Just like the good old days!