In an inteview with NowGamer, Tekken producer Katsuhiro Harada stated that the project is a "big priority", and that the Tekken team was going to be involved after Tekken Tag Tournament 2 was finished.
Harada went on to say, "obviously it’s a big priority for the company. So company-wide there are a lot of people involved with that particular project. Not just from Tekken but a lot of our franchises."
If you were hoping to get any Namco character roster info, prepare to be disappointed. Harada has temporarily quelled any potential excitement: "We’re not really sure at this moment but when thinking of the playerbase who is playing Smash Bros, maybe Tekken characters is something they wouldn’t want, so I’ve been pulling back on that a bit. But I don’t know."
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destructoid's previous coverage: Super Smash Bros.