As a fan of Ashura's Armada (SS64-2), I'm looking forward to this. SS64-2 proved that not only could the series be done well in the 3D plane, it may be all the better for it, because it may alone offer things that couldn't be done in 2D. Plus the guys behind SS1 and SS2 are back in the saddle for SEN, which just gives me a good deal of confidence in that factoid alone. Even if the graphics may not do anything to turn graphic hounds away from Namco's newest batch of eyecandy, I think this graphic style will be good enough. Probably will be along the lines of high-end KOF MI graphics engine (which pretty much means a PS2 and Wii port eventually).
Also, it's my experience that most people who dog the idea of SS in 3D either a) never tried it (especially AA), or b) simply played that craptacular PSX title (which was called Warrior's Rage), and thought it was fit to pass judgment on any and all attempts. All I know is that after "Rugal" introduced me to Ashura's Armada, I was certainly a believer...