SF4 for iPhone is the kind of game that exists not to be played, but to be shown to your incredible friend who doesn't know the marvels of technology. You pass it around to people, who may even try their luck doing a punch or two and after that nod, acknowledging it is, indeed, SF4 on the iPhone.
This game isn't supposed to be played as much as it is to be shown. A little piece of digital vanity, like a virtual pet. If you actually try to play you'll find an experience so simplified that is as much a fighting game as two slices of bread are a sandwich.
Eventually, I guess, everything will be ported to the iPhone, from Starcraft to iPhone for Dummies, and while bad ports will still be made, people will be hardly interested in showing it to anybody.