That's exactly what I'm implementing in my game. Actually, everything that's been dreamed of or that was possible, has been included. I always thought of using the Combination Attacks as Overdrives/Limit breaks so the player wouldn't spam them as often. Plus, the bar resets if a char gets K'Od... Hair-pulling moments. *starts cursing in fury*
As Thoul mentioned above, there is an attack that conjures up the spirits of the fallen, and it's called Spirit Cannon.

I implemented it about half a year ago.
Note: Not related to the original games.
As for Generation Two, I've never played any of the remakes, so I wouldn't really know much about them. The artwork alone is enough to put me off... But that's just me.