I don’t want to make this into too much of a “fighting game” site, but it is my specialty! Besides, it seems to have been a hot topic on our forums recently, so it feels quite appropriate.
For those of you whom are intimidated by the odd play style of a joystick (and I weep for your arcade empty childhoods), Hitbox setups have actually become quite popular over the years as a possibly superior alternative. Video above. Lesson 1. Fight.