I stopped following this one after II. I remember they made a couple of different versions, like Street Figher II and Super Street Fighter II. "Super" added a couple of extra fighters, but was essentially the same game. I think they continued the series later, but I don't really know.
There was a Street Fighter movie based on #II. Most people don't seem to like it, but I think it's good, for the most part. It had Jean-Claude Van Damme and Raul Julia (it was his last movie).
The Mortal Kombat movies you mentioned (they spell it with a K, I guess to be "cool"

) were based on a similar game that was popular around the same time.