From the Magic Box:
"UNCONFIRMED: Capcom's Street Fighter Anniversary Collection for Xbox will be a W-code DVD-ROM, the game will be compatible to both Japanese and US models of Xbox, and all the dialog text will be in English. Street Fighter Anniversary Collection is scheduled to release in Japan on October 28."
There have been other games like this, such as Project Gotham Racing 2 IIRC, that have been compatible in both regions, so this is definitely possible.
"UNCONFIRMED: Capcom's Street Fighter Anniversary Collection for Xbox will be a W-code DVD-ROM, the game will be compatible to both Japanese and US models of Xbox, and all the dialog text will be in English. Street Fighter Anniversary Collection is scheduled to release in Japan on October 28."
There have been other games like this, such as Project Gotham Racing 2 IIRC, that have been compatible in both regions, so this is definitely possible.