It's been quite a while since I heard anything from the players I follow (namely, the guys on my flair). Tournaments in my country has also waned down in favor of the "anime" fighting games, Smash Bros., and Tekken/SF. I wonder if this game is already "dead". It's sad to admit that even the custom arcade machine running UMvC3 here in a mall has no customers playing. MvC2, on the other hand, still has A LOT of players. But that many players doesn't equate to many machines to play it with. So, they transfer to other games, namely SF and Tekken.
That said, what factors led to this "death" of the game?
Honestly, every time I see new techs, I get excited to try them out against a human opponent but, again, no one plays it anymore (and online play is not good where I live so, I'm really limited to face-to-face challenges).