KOF98UM has been on XBL since july 2009, albeit with shitty netcode. As for PSN, SNK supposedly hasn't been doing PSN stuff because sony was like "ur gay sprites aren't high res enough" and they were like "whatev, we'll just port on 360 then." However, apparently they're putting some neo geo stuff on PSN now, so maybe they'll get kof stuff on there.
Eh, why? Because of Extra Groove? Extra groove seemed very meh to me, and I don't see much reason otherwise to prefer 98.
Eiji, Krauser, Mr. Big, Chizuru, Rugal, Saisyu, and Heavy D are cool, but IMO Maxima, Whip, K', Jhun Hoon, Lin, Vanessa, Ramon, Seth, Kula, Angel, Li Xiangfei, Hinako, Bao, Nameless, and May Lee are a much better group.
plus, lol unblockable glitch
edit: I texted a bunch of guys to make sure they're aware of the friday/saturday meetups.