BigMex, who has been doing some really interesting entries recently, put up a blog about one of guy's behind Street Fighter's artwork, Bengus, a.k.a. CRMK. For the original SF II, Capcom greats Akiman and Sensei had designed stylized, almost proportionally realistic characters, Bengus was at the opposite end of the spectrum.
The fighters personality spoke through the character designs. Muscles were exaggerated, hands and feet were disproportionate to the body, the good and bad guy archetypes were easy to identify and the animation perfectly complimented the design.
The art and design was unlike Japanese manga art and at the same time unlike Western comic book art, it was a perfect hybrid of the two. Bengus has never been hung up on creating Japanese pop inspired characters but rather fresh and unique ones.