During a discussion at the Chrono Crisis forums we've learned that not *all* 900 of those characters are going to be playable, darn! Only 4 characters are going to be playable for the beta demo (KOS-MOS, MegamanX, Cloud, and Link), but the list will be expanded gradually as time goes on. The key is, how is the spriting team going to decide which characters to complete?
We know that Crono is playable judging from the preview video they have, though.
What I'm most thrilled about is the existence of the sprites themselves. They could probably be ported into Xenogears, Valkyrie Profile, the Tales games, etc., (hell, maybe even Dragon Force) for some good ol' RPG action. They may or may not release the sprite sheets -- but as with any other game, there must no doubt be a way to rip them. Those sprites are just *too* beautiful to pass up, though I wouldn't submit them to the Spriters' Resource out of courtesy (that site specializes specifically in official or self-made sprites). Here's to hoping they just release the sprites so I can stop worrying about moral dilemmas.