The Super Street Fighter IV Arcade Edition update patch is slated for a June 7th release on Xbox Live Arcade and PlayStation. Capcom have a post up on their community site, detailing how the update will be rolled out come release day:
“On June 7, there will be a few downloads available. The first is a title update/patch. This will be automatically downloaded to your console of choice when you are connected to the network. This patch is basically an under-the-hood primer for the other two downloads, and doesn’t have any real visible functionality.
The second download is a free "Update Kit". If you’re not planning on buying Arcade Edition, you’re going to want/need to download this for matchmaking and spectating purposes. However, you’ll still be playing Original SSFIV.
The third download is the Arcade Edition DLC (1200 MSP/$14.99). This is a required download if, you know, you want to play AE.”
Once you’ve downloaded the second patch, you’ll have the ability to play against Arcade Edition owners online, but they’ll only be able to use “vanilla” Super Street Fighter IV characters against you. The balance changes of their game will revert to those of Super IV while they play against you. You can find more information regarding how online play and costume DLC works in Capcom’s FAQ blog post.
The boxed version of Arcade Edition for consoles will be released on June 28th for $39.99. The PC version of the game doesn’t have a concrete release date just yet, but Capcom hope to have it out in the early part of July.