Terry Bogard has been released into the wild and everyone has been testing the character out. The early consensus is that he will be a good character but probably not top 5. It has also been announced that Terry Bogard will be tournament legal for the upcoming DreamHack Atlanta which will start in early October.
Street Fighter 6 has tended to release new characters really close to major tournaments. For Rashid, it was Evo, for Akuma, it was Combo Breaker, and for Bison, it was CEO.