Hi all,
Well, I have the newer ArcadeVGA2 (PCIe) and I am having the same exact problems that XtraSmiley has.
Looks like this game will not work on an arcade machine running any kind of AVGA. 
~ DeLuSioNaL
To follow up on the AVGA2 issue. There are a few sets out there (confirmed with Andy at Ultimarc):
AGP Version of AVGA2: ATI 9250 chipset -
not compatible with SF4PCIe Version of the AVGA2: X550 chipset -
not compatible with SF4PCIe Version of the AVGA2: Radeon HD2400 chipset -
compatible with SF4, but unplayable due to extremely low frameratesUPDATE: PCIe Version of AVGA 3000: Radeon RV630 chipset -
Guaranteed to work with SF4 @60fps
I e-mailed Andy at Ultimarc and he responded as follows:
My original e-mail:"Hi Andy,
I was running the newly released Benchmark test for Street Fighter 4 (SF4) and I could not get it to run. Although I can hear the game running, after the logos and intro screens, all I see is a black box. Others have experienced the same issues. However, there is some confusion as to what the specs are on the AVGA series of cards.
I believe the following to be true:
AGP Version of AVGA2: ATI 9250 chipset
PCIe Version of the AVGA2: X550 chipset
However, on your site you list the AVGA 2 PCIe version to be a different chipset:
PCIe Version of the AVGA2: Radeon HD2400 chipset
Listed on this page: http://www.ultimarc.com/avgainf.html
Which is correct? Is there a new PCIe version of the AVGA2 out? If so is it SM3.0 compliant? Some on the forums believe this to be the issue.
Thanks in advance for your insight."
His response:"The card has been HD2400 for around 18 months now.
The HD2400 is DX 10 compatible whereas the X550 ws not, so maybe this is the issue.
Andy"
Turns out I have the AVGA2 with the X550 chipset (PCIe slightly older card). However, a buddy of mine has the newer HD2400 chipset (PCIe) and it ALSO does not work.
So there it is. All AVGA2 cards are incompatible.
**edit** The NEWER AVGA2 PCI-E card does work, but it is pretty much unplayable (very low frame rate) so in my book all AVGA series do not work with SF4. (see attachment with screenshot sent to me by Andy himself)
UPDATE: The new AVGA 3000 is guaranteed to run @60fps at maximum settings!
~ DeLuSioNaL