Virtua Fighter 5 Ultimate Showdown was updated to version 1.04 today by Sega. The full patch notes for this update can be seen below.
Virtua Fighter 5: Ultimate Showdown is the latest installment in the renowned fighting series. Challenge the world’s best fighters in the ultimate remake of the iconic 3D fighter, now with beautiful HD visuals, new online features, and all of the legendary original’s bone-crunching martial arts action. Classic VF modes like “Arcade” and “Rank Match” are still available, as well as the ability to organize your own unique online tournaments with up to 16 friends and learn from the best with the new “Spectator Mode.” To become a Virtua Fighter legend, master your fighting technique and defeat all rivals in the Fifth World Fighting Tournament.
The new patch has implemented some matchmaking improvements and bug fixes as seen below.