Pinoy MUGEN Fighting Game as Thesis

Hi guys! Good day to everyone especially to the admins of this site.

I am Janno and I am a Fine Arts student graduating this year. As a student artist and a passionate gamer myself, it was very exciting for me to be able to design and develop a video game as my thesis. I interviewed Mr Gabby and he thought it best for me to involve myself in the IGDA forums. So here I am and I might as well take this opportunity to ask everyone what you may think on the game I am currently working on. Here are the details:

I am planning to make a fighting game which aims to promote Filipino pride to our youth, and I hope to develop that using the MUGEN game engine (which is a freeware 2D program). The game would feature Filipino characters in them; Pinoy heroes (whether they be mythological, historical, realistic or fictional people) would slug it out alongside Pinoy villains arcade style (mala-Marvel vs Street fighter, snk, capcom style). This game would be complete with Pinoy soundtracks as background music, and fight stages that would feature the Philippine setting (ex: Banaue Rice Terraces, SM mall of Asia, Wowowee Studio, etc..). I envision the project if developed fruitfully to elicit a sense of pride for Filipinos who would play the game.

Here are some sample character designs I've made so far:

http://img.pinoy-symbian.com/images/Patikan/and1samp.gif
Andres Bonifacio Pose1

http://img.pinoy-symbian.com/images/Patikan/and0stancesamp.gif
Andres Bonifacio Stance

I made all of them from scratch so sorry for the half-baked quality Anyway, Andres is just one of the roster of characters that I'm thinking. Other heroes which I'm planning to include are Darna, Bernardo Carpio, an OFW and Manny Pacquiao as a boxer.

My question is this: Do you think my project is worth pursuing? And, do you think my goals are in line with the design concept I have so far?

That's it guys, I basically just need an assurance of some sort from the game enthusiasts and developers community that what I'm doing is not that bad. Any criticisms, comments and suggestions would be well aprreciated. Please feel free to bash on my concept if needs be, hehe.. after all, I'm hear to learn from you guys and to contribute whenever I can.

Thanks!