Rockman Elysium

Head there to read the article. No direct links to the image from here for a variety of reasons.

They also say:
- You can play as Blues.
- The graphics are in the 8-bit sprite style, but not the classic Famicom/NES one.
(from the screenshot, I think it looks 16-bit...)
- It doesn't have anything to do with the X series.
- Tango is in it, and works just like the Rockman World Game Boy version.
- The game doesn't support full wide screen YET, but it will.
- It does support 480p.

This is now the second person (if it's not the same person) saying that Blues is a playable and that the game doesn't link to X. I checked the EXIF data of the larger image and confirmed that this IS a cell phone picture, from an LG phone, taken today. Granted, it'd be easy to make a photoshop on a screen, then take a picture of it, but are we getting into the realm of absurd paranoia to say that?

My personal speculation is that this is coming out of Backbone Emeryville as developer working with CoA, because of their very-recent handling of 1942, Bionic Commando and the revised Street Fighter for XBLA/PSN. "The Shadow" has stated two developers are on it - a recent PDF press release from Backbone's parent company mentions "several" classic franchises that they're working on, and the prior 3 have already been revealed.

Most are now focusing on waiting for an announcement at E3 in July.