I'm usually not one to complain but I feel this is something that seriously needs to be added soon to Street Fighter 4's online mode: Quarter Matches.
If you're not familiar with "Quarter Matches", it's essentially a feature that is present in Street Fighter 2: HD Remix that allows multiple people to join a lobby to not only rotate to play the winner of the previous match, but also chat and spectate as well. After playing a week of Ranked matches with random people all over the world, sometimes I'd rather round up 4-5 people from my friends list and just make a lobby with people I know personally.
As I understand it there will be a Championship Edition DLC coming out in the near future that will allow you to run tournaments, but this is not the same as having a lobby rotating with multiple players. Perhaps they haven't announced the Quarter Matches yet, but I cant imagine it being that much harder to alter the tournament lobby so it will work as an on going rotating lobby.
I'm sure I'm not alone when I say I'd rather have this feature than more downloadable costumes!