Namco Bandai is releasing Tekken Hybrid for PlayStation 3, a single Blu-Ray disc that contains Tekken: Blood Vengeance 3D, Tekken Tag Tournament HD, and some more content that is yet to be announced.
Tekken Blood Vengeance 3D is the full length CGI Tekken movie by Digital Frontier (Resident Evil: Degeneration), penned by Dai Sato (Ghost in the Shell: Stand Alone Complex, Cowboy Bebop) and scored by Hitoshi Sakimoto (Ogre Battle, Final Fantasy Tactics, Tekken 6). Not too shabby, and undoubtedly a better piece of entertainment than the live action Tekken movie.
Tekken Tag Tournament HD is exactly what you think it is -- a HD version of the PlayStation 2 game. According to Katsuhiro Harada (the series' creator) the HD remake will include a version of Tekken Bowl as well.