Capcom has already successfully ported a respectable list of their classic titles to Apple’s App Store, but their newest venture seeks to apply the classic arcade’s business model to the digital age. Capcom has launched Capcom Arcade, an app that grants access to four titles – Street Fighter 2, Ghouls ‘n’ Ghosts, 1942, and Commando (via MTV Multiplayer). The best part is that the app itself is free. As you might expect, however, they are still trying to turn a profit here.

The games are played arcade-style by spending a “token,” of which you get three per day. So, theoretically, if three tokens is all you think you’d need in a day, then Capcom Arcade is essentially free mobile gaming for you. However, if you’d like some more leeway with the games, you can purchase another 10 tokens for 99¢ or buy lifetime access to one of the games for $2.99. You might recognize this set-up; Xbox Live’s Game Room works in a similar fashion. You can also bone up another 99¢ to unlock cheats and powerups for the games, such as extra lives or more firepower. Now, to me, that kind of defeats the purpose of playing the classics. But I suppose not everyone with an iPhone these days even remembers what arcades were like.

Whether you fork over actual hard-earned cash or not, you’re still going to have to put up with some banner ads. Another sign of the times, I suppose.