For the first bold...that /really/ comes down to if you mean 2D or 3D, because I honestly think BB looks cleaner than SF4. :l
If I only looked at screenshots, or maybe even at 30fps videos, I'd be inclined to agree with you. During play, I find there is no comparison. There is a certain kinetic feel to impacts on street fighter, a certain secret sauce that makes hitting people more satisfying. My guess is that it requires a lot of polish into facial and body animations on hit.
As for the second one, I don't like the body designs and proportions for SF translated into 3D. Some characters look to meaty, some look to stuffy and closed together. This is specficially for SF4, whereas for Ult. Marvel, the characters look much more closer to their original designs.
Yes, it is true. That's one reason why I can't wait for SFV. They can also do a lot more with hair, fabrics, articulations, skin, mouth, teeth and so on. It ought to make punching someone in their virtual face even more satisfying