From what I have read so far, there may be 10 or more characters in the game. So far they have only released information on 3 characters on the official site:

quote www.ironphoenix.com

Qi Go
I am the master of the tiny village of Yong-jian, a place of tranquility and beauty where I chose to found my school. Considered the greatest fighter of the Central Plains, for many years I have traveled in search of the Phoenix weapons. Now I devote myself to training the young in balancing the heart and mind to become proficient at the martial arts.
The spiritual and physical discipline to which I subject my students is difficult to endure, but I believe such practice is necessary given the high aspirations I have for them in these troubled times.

Mia
Mia arrived as an orphan child in Yong-jian village. I took her in as my ward, and I have trained her from the very beginning in the most secret techniques of the martial arts and esoteric philosophy. She is highly intelligent, resourceful, and dependable, sharpening her fighting abilities remarkably through meditative quiescence and purification. I can only hope her considerable skills will enable her to survive the quest I must ask her to undertake.

Kai
Like Mia, Kia came to Yong-jian village as an orphaned youngster. A few years older than Mia, he too came under my guardianship, living and training each day as my student. He has overcome the obstacles of a profound difficult education in the highest forms of martial arts and the internalization of spiritual force.
He is headstrong, powerful, and clever. I have encouraged him in the daily exercise of control over his thought emotions, and actions. We shall see if his natural gifts and intensive training make it possible for him to complete the quest I will ask him to accept.

Mia sounds the best so far but Kia could be also.

Gotta be at least 16 skins for XBL. Will this give UC2 a run for its money?

yea this will defieantly give uc 2 a run for its money wire-fu moves devastating moves and nine weapons!! what can go wrong. This game will make a revoultion in mmorpg's

Most/All of the characters and profiles are on the website now.

yea the things is, is that the levels you have to get the game look at the rest of the levels in the game as well as the rest of the weapons.