Capcom in 2000 and Capcom in 2010 are completely different beats. Back in the day MvsC 2 got the same treatment their fighting games got back then, meaning: a handful of new sprites/characters, new music and new backgrounds (which were all in 3d, that was kind of a big deal back then) Marvel was also having some pretty tough times, being near bankruptcy and none of their licenses being a huge Hollywood deal (X-Men the movie wasnt even out!) The stakes are much higher now and I dont see Capcom nor Marvel treating this as a small deal, specially now that the have revived their status in the fighting genre.
So, my point, if you "port" TvC assets to PS360 as a RETAIL game without a substantial visual upgrade, then, as Capcom (and not a small company like Nippon Ichii, theyre not held under the same scrutiny) you are not doing your job well enough. There are very high expectations on what such a game would look like, and not upgrading the geometry on those TvC models would be a big mistake. Look at Capcom this gen and they have gone all out on all their big franchises, and MvC is right up there with them (mind you, I dont mind the style of TvC at all, I think its great) If they keep the assets Wii quality, then sell it as a downloadable game.
I do think you need high quality models, animations and effects for a high paced game though. I mean thats no excuse. If the art director wants a "simple" looking game then go right ahead, but thats not easier to make in any case (good example being Okami, simple looking but with a LOT of geometry underneath) To quote you directly a "balls-to-the-wall, blow your socks off, flagship HD game." is EXACTLY what Marvel vs Capcom sounds like to me, not Disgaea
Dimps had a year to create 10 new characters and a handful of backgrounds for Super (which look much better than the ones in vanilla). Thats a very, very short timeframe to work with and I can say that with confidence. But yeah, assuming can be annoying so lets say Capcom/Dimps brought in a lot more people so that they could star production on MvC3 sooner ... if thats the case then yes, as long as they started a year and a half ago, and crunched a fair bit, Id say they could make it for this holiday or early next year.
Im betting on the Tatsunoko team being responsible for this game though, since they finished production a while ago and have just finished working on a versus game, that just makes sense. What we dont know is how different those two engines are (SFIV and TvC), how they can port to other systems, if the TvC team could work right away with the SF IV engine, etc, etc.
Either way as long as we get something ambitious, fresh and really good looking I dont care what system its for, I'll be happy