I'm in same boat pal, can't do anything ...

I cant do anything from live battle, and it looks exactly the same, how do you join the tourneys?

Tournament mode offers nothing new.  Think of it as regular mode where you can see you opponents BP before the fight.

As far as I can tell, CP doesn't mean anything.  It resets to 0 after each tournament. 

I italicized tournament, because it's far from what the mode actually is.  Beat a series of opponents to get more exp, and gain level ups.  Your opponents are not predetermined, and there is no tourney board.

The only cool thing about this update I think, is the hidden character select.  That is all.

Random select has been ruined in my eyes.  I liked being able to see who it landed on before deciding whether I want that selection or not, since there are characters I have really no desire to touch.

Nothing special.  doesn't even feel like im in a tourney.  Turbo hd lobby and tourny was much better.

Yea Im really disapointed in this. I couldnt wait for it to come out but this has nothing on SF2HDR torunement mode. THis really isnt a toruney at all. Very poor, this to me feels like what I would have expected the ranked mode to be from the start.

What a shame