Bout time you guys posted a thread on this game. I used to love it. Easily took a place in one of my favourite dreamcast games, because it's so damn fast-paced. Apparently a sequel is being worked on(Yeah, I know it's immensely old news. Bite me).
Marvel vs Capcom 3 has no officially announced development because Capcom no longer holds the rights to use the Marvel IP, I suppose you could say the spiritual sequel is Tatsunoko vs Capcom, but nothing on a MvC3 is known.