All is not lost!  Markman posted this on SRK:

 Hello,

I guess I can finally say something about this. Yes Mad Catz is working on Street Fighter IV products in conjunction with Capcom. They will be official Capcom licensed products. Seth and Ono-san have been working with us in order to provide/design the best possible product.

I'm not sure if you know, but you should, s-kill/Seth is a long time Street Fighter player and knows more than enough about arcade sticks, and I'm sure he will assure you(so will I) that these products will rock. I'm part of the team working on this project and if you don't know about me, I'm an arcade stick maniac, I know what works and what doesn't. I just ask that you look forward to the product.

The team here at Mad Catz is really dedicated to getting the SF IV products just right and I guarantee you they will be well worth the time/wait. While I can't disclose anything specific about it or the actual design, nor will I answer any questions about it, be rest assured that a lot of research and experience is going into these projects.

So while I am aware Mad Catz has had 'issues' with other products in the past, this shouldn't deter you from this new joint venture with Mad Catz x Capcom. Please look forward to it.

- MarkMan
SDTEKKEN.COM

Coming from Markman, this has me pretty stoked.  Hopefully it means we can have some sort of TRUE arcade quality stick without having to pay an arm and a leg for it.  We'll just have to wait and see as more details come up.

I think they're making pads as well.  Hopefully they are making them with classic and fighters in mind, i.e. the button layout you're referring to, and a dpad that isn't complete garbage like the microsoft 360 pad.  I would probably pick up both if they end up being good.  Definataly woudln't mind a nice classic controller for playing xbl arcade games/etc.

Passing judgement on something you haven't even seen (much less actually played on) does not show your sophisticated, demanding tastes as a gamer.

It makes you look stupid.

They tend to make bad controls that break or stop working within months of purchase. I speak from personal experience with their products. But i would love it if they were to prove me wrong this time around, till then I'll remain skeptical.

That's more an acceptable attitude, and I'm with you. Mad Catz made the absolute worst DDR pad I ever owned back in the PS1 days, but that doesn't mean I'm automatically ruling this upcoming stick out. Their line of Rock Band stuff is pretty sweet, actually.

Remember when capcom said they were making this game for the fans............. this proves that they where BS

Here's a great example of a retarded post.

Out of curiosity (and I know pointless seeing as the deal has been made) anyone else have any companies they think should have signed such a contract with instead of Madcatz?

Of course.

Hori.