Since I'm a bit lazy right now I simply gonna copy pasta large parts from my blog post
Introduction
Vanguard Princes is a free of charge doujin fighting game which was solely created by Sugeno, who is rumoured to be an ex Capcom employee. The game was originally released at the 30th June 2009 and is since then downloadable free of charge from his blog.
It is a classic 2d fighting game, which contains 10 main characters and 4 support characters. The controls are fairly easy since they pretty much resemble the ons of the classic Street Fighter games or the more recent Melty Blood series of TypeMoon.
Review
There is only one word to describe this game, wow, absolutely wow. It’s really hard to believe that one single person has created this all by himself, the gameplay is great, the music is great, the graphic is great, the character design is great (especially veeeery moeishes girlies <3), the voice acting (yeah it even does contain this) is great…just everything about this game is high class and can for some part even knocking out commercial rivals.If you play the game you would never see for a single second that it’s freeware and not a commercial game. I can only say download it and enjoy it^^
Preview
http://www.youtube.com/watch?v=0Tt8V7AXtJU&feature=related
Links
Game Download
For systems with Japanese Unicode
http://www.freem.ne.jp/game/win/dl/dlfg02302.html
or
http://www.megaupload.com/?d=QSEVIMMP (provided by poverty.mizuumi.net)
For sytsems without japanese Unicode
http://www.megaupload.com/?d=844A0BUP (provided by poverty.mizuumi.net)
Sugenos Blog
http://suge9.blog58.fc2.com/
Wiki
http://poverty.mizuumi.net/wiki/Vanguard_Princess
Note: At the wiki you can also download the program lunaport, with which you can fight other players online.
Regarding Lunaport, monsta and I tried it around a year ago...but we did not get it to work ...maybe we were just too dumb