OK so I just got back from the play test in the area where I live so I will now try to break down what I saw. Sorry I didnt get any pictures but if they post picks of the event on their blog I am the giant black man with the thundercats t shirt (cause thats how I roll)
I got to the event around 12:35 there was about 9 or 10 people in front of me, at 12:55 they asked who wanted to play xbox and ps3 (only one person wanted to play xbox). So the way it went was you got one stage in arcade mode then you had to move on. Ps3 had billy Xbox had saki both systems had iori (you have to press select on iori to pick him)
So here are the few things I noticed
Iori -flame version
feels just right.
His ex fireball poisons and freezes the opponent like his old fire ball super. (

)
EX HCB k becomes a command grab like kyo HCB K
Ex rekka was a bit quicker but on the last hit he jumps really far forward so I think this will be used to move people into the corner.
I was messing around with his HD mode and tried rekka x2 -> hcb k -> rekka (but this rekka would wiff)
rekka x 2 --> dp --> rekka (also didnt work)
but dp -> hcb k -> dp ->hcb k worked just fine. (also Dp into command grab)
No one could get his super (qcf hcb P) to connect to his other super (qcf x2 p)
His NM is done by qcb hcf PP. Now the weird thing about it is when you see the flames come out that just when he lands doenst mean the move actually connected. So thats going to be a pain in the ass because when you do the move you cant see the characters because of the fire so who will know whats going on.
Kyo
Didnt see too much with him, his high school outfit was there so I dont know if he is going to have an EX version
Benimaru
feels like his Dp K is a bit faster
like other sites have stated ex rajinken (qcf p) stays out a little longer so you can follow up (it freezes them like ioris ex fireball but not as long) if you dont follow up them fall to the ground.
EX air raijinken stays out for a good amount of time so I can see this being abused more.
Terry
cr.B -> cr.A -> cr.C takes no effort at all (its harder to combo cr.b ->cr.a with Ralph) a lot of the japanese players were staying that this is going to make terry really dangerous.
Joe
Saw the ex Screw upper super WAY faster and like everyone else said goes across the screen
Andy
Heard he got toned down (mostly cr.D) but he is still dangerous. His dash elbow still lets you put a ton of pressure on.
his HD combo still worked too. C -> A -> hcf B BD -> db f A x2 (I also finished it with his neo max)
Takuma
One of the good Japanese players was able to do his long as drive cancel combo (got 57 hits I think) but it doesnt build as much meter and it didnt dizzy the opponent either.
K'
Same guy who used Takuma played as K he can still do some pretty mean HD combos but toned down a bit.
Kula
Only thing I saw that surprised me is it looked like her jumping C hit box got smaller (by that I mean the ice she hits you with looked smaller)
Kensou
Felt the same but did get a new property for his punches super. It now has a guard break (before the whole move would come out no matter what) but I assume that you cant combo into the guard break.
Iori regular
felt the same didnt see anything different
Ralph
Gatling punches knock down on 2nd hit which sucks because I used to use that for my HD combo. Other than that he felt the same.
Other shit
Tried billy once but didnt really care too much about him, I didnt try Saki, I stayed so long that the people running the event allowed me and some other guy to have a couple of matches I was on a stick he was using a controller. Our first set ended in a double KO on the last round, it now gives you a round after a double KO with 25% health (I won btw) Then we played again he whooped me. Time out games now have new animations (before both characters would just stand there).
Thats about as much as I can remember if you guys have questions I will do my best to answer them.