nope, it's going to be a 2D fighter with 3D graphics. you can only move side to side. (and jump of course)
i have a bunch of video clips from SSB Melee, the game looks sweeeeeeeet... according to Nintendo Power magazine, the controls are a lot like the first SSB. i just hope that you can use a button to jump, i can't stand using the control stick. preferably the X button.