So Arc announced BlazBlue Chrono Phantasma today. Unlike CS this seems to be getting the full blown sequel treatment.

Trailer.

http://www.youtube.com/watch?v=8_O9VIUmmiQ

Reports say all the characters have new stances/idle animations. New themes/BGM's, not sure if for all characters are just some yet. Obviously new moves for characters. Games in a new city so all new stages.

Not much is known on system changes yet, but it looks like bursts now refill like in Guilty Gear. Also doesn't look like there is a guard crush system like in the previous 2. Also looks like meter is now in 4 chunks instead of 2, this could mean that all characters now have EX attacks instead of it just being limited exclusively to Jin, or some other meter using abilities or mechanics will be introduced.

Anyway 3 new characters were announced. I hope more are on the way, at least for console, and not as DLC.

Anyway you have a new guy that looks like a girl and makes Jin look like Tony Stark, a crazy old dude, and a new girl named Bullet that's been nicknamed Makoto V2 by people. :P Nu was oddly absent from trailer, and since we learned at the end of CS she was still alive, so I'm guessing she will be a sub-boss or something, hope she is just a sub-boss instead of being the final boss again, hoping the Imperator is final boss.

Noel has got a complete makeover sporting a new outfit and wielding a new set of guns.

The sexilicious get more sexilicious. Her new outfit also seems to reflect a bit of her Mu persona, since I would assume Noel is now in full control of her emotions after Bolverk being destroyed so her and Mu are no longer seperate personalities.

Showed off one of her new moves in the trailer, she's now got a freaking shotgun!

Noel can even make blowing someones head off with a shotgun adorable.