The characters would all wear giant shoulder pads! We kid. In reality, they'd be a lot more detailed, with a heavy emphasis on arm veins. And would look a little something like this.
Some forum dwellers over on Game Artisans have taken it upon themselves to run a little competition, see who can come up with the best 3D Street Fighter character render. The results show that it's a fruitless contest, because everyone who even glances at the thread is a winner.
We've posted a couple of the highlights here, but there are plenty more at the link below.