Sure, it's no Figma, but given Mario's squat proportions it's probably the best we could ask for. This Bandai figure will be out in May, and while the figure itself is great, it's the accompanying playset that's really taking the Tanooki.
Mario on his own is available from importers for around USD$25, but for an extra $20 each there are two sets you can get to go with it that add pipes, goombas, coins, a shell and blocks.
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So while the figure on its own looks awesome, as you can see above, check out how it looks with both playsets attached.
S.H.Figuarts Mario (PVC Figure) [Hobby Search]