Haha... a Lucha character named "El ____" isn't exactly the height of innovation in a fighting game, but he should be an interesting addition to the cast. Besides, some of the classic SFII designs were kinda generic when you think about it. You had your karate guy, army guy, sumo guy, jamaican guy, etc. No reason a new "generic" character can't become awesome.
So we've got the World Warrior 8 and the three new guys so far. I'm hoping we get some Alpha/III/Final Fight love in that cast soon!