The Japanese are arcade nuts, atleast that's what I hear, and I was under the impression that VF5 was PS3 exclusive in Japan only since there's no mention of a 360 version on their Japanese site, but both versions are stated on the English site . I could be reading too much into it tho.
o.o they have the Xbox live logo on the US site too. Us PS3 users are gonna get shafted again if it's online for the 360.
Japan does still have a thriving arcade business, but from the last numbers I saw (a couple months ago on Gaf), VF5 isn't doing that great in the arcades yet, at least not as well as it could (still not that big, behind Tekken 5: DR). I heard the leasing program to get a VF5 unit is pretty ridiculous too, making uptake a bit slower (arcades can't buy the units, have to lease them or something silly like that). That may explain somewhat why VF5 isn't doing as well as some had hoped as it just isn't cemented in the arcade goers minds quite yet.
Online play is not going to happen, the logo is probably just there because it has to be live aware (achievements and other garbage).