Just giving my pretty subjective opinion here. Durp.
I think a Mugen game would be awesome, tho' it would probably make up for yet another Jam. Sprite Action Jam, or something. People would need to make a movement sprite of their character. As well as Pain, defeat, attack, jump, crouch, lean, block, etc.
I think it would be fun. But again, We wouldn't be able to pit againts each other.
I have no knowledge about the other one, Figter Maker, but since you mentioned it could be a complete game and we could battle each other, that sounds even more amazing, as it would allow the community to grow up even more.
All in all, I vote for the Fighter Maker.
Insert really edgy and unique title here
Sirloin Steak vs. Buffy Blueberry
@ 4:24 AM Mar 29th