After reading the chat log from fight night, here is what I've gathered. First of all we have been told to keep playing to find out if there are any other characters. We've also been told to try various button combinations on different screens. The only thing is, we don't know what screen or what button combination to use.

So here's what I think. I remember when the game first came out I came to this forum and looked around to see if there were any other secrets, since I already had gotten Blaze and Mokap. I remember someone posting a message about what looked like a button combination on one of the koncept art screens (it's a swampland sketch). So I decided to browse through all the swampland sketches, and sure enough I'm pretty sure I found what the forum member was talking about. On the upper right hand corner there looked like a button combination. The only problem is, the first one or two buttons look kinda faded, it's hard to make out which ones they are. But it DOES look like a button combination.

When you unlock Blaze and Mokap you're told to press down + start on either Raiden (for Blaze) or Cyrax (for Mokap). So what I think is maybe there is a button combination on the character select screen to unlock a new character. Unfortunately, I have the feeling that if there are any more characters all we're gonna get is Moloch, since you can use him with a game shark and he does have a story board (I gathered this from reading other posts on the forum).

Anyways, I'd love to hear anyone's opinion of this theory, as you might be able to throw in some observations you've made in the game.