To be specific, it's a P3/P4 Cross Over fighting game that is set 2 Months after the end of P4. It's being developed by Arc System Works, it will have a story mode which is being written by the writers of P4. Right now all the screen shots are of an early build so the cast list and amount of playable characters is not definite.
So far confirmed characters are, Yosuke, Yukiko, Yuu/Souji/P4 MC (whatever you wanna call him) Chie, Kanji and Agis.
They have also confirmed P4 will be ported to the Playstation Vita and will have new content, a new area to visit, new animated cutscenes (unlike P3P all animated cutscenes and models are included) new events that occur during the story (such as a Halloween Party at Junes)new costumes to have characters wear, new gameplay elements and there's a new character named Marie.
Right now her roll is unknown, but she seems to be more important then a simple quest character so she could either be a new S.Link OR a potential new party member.
Popebug said: Reading that sentence is like watching Wakamoto Norio ride on a beautiful rainbow and hand out free candy for everyone. Free candy that cures cancer.
