Aside from a few decent anime movies, Street Fighter's theatrical history is one to forget. Good thing this isn't a movie, then.
Street Fighter: Assassin's Fist is an upcoming webseries that'll run on Machinima, which is a "coming of age" story about Ryu and Ken.
Sure, there's a certain degree of corny you can't escape with live-action Street Fighter, but whatever, this looks pretty good! It helps that, for once, they somehow found an actor who actually looks like Ken.
Street Fighter: Assassin's Fist - 'Ken' Teaser Trailer [YouTube]