This Saturday, August 4th is Virtua Fighter 5 Final Showdown - Tougeki (or Super Battle Opera) 2012 3on3 Tournament! VF5FS tournament begins at 11:40 AM JST with the Finals at 5:10 PM JST.
Discuss about it in the SBO 2012 Qualified VF5FS Teams Thread.
Portions of the Nico Nico Stream are free, but other portions are not. Check out Iplaywinner's Article about the details of the pay-per-view stream and how to navigate the site to pay/watch the stream.
Update: Check the following post for the Tougeki VF5FS Results. The winners were awarded with the 【闘劇三闘士】 (Tougeki Santoushi, the 3 fighters)
Check out the New Combo Lists Released announcement. Help spread the word by sharing it around on various social networks, and hopefully this friendlier format may attract some new players to give the game a go!