What about yoshimitsu? and can't we fit Jet li in there somewhere? I do think Jackie Chan would be a good Lei Wulong
because he is great at Animal styles and formal kung fu. and as for Jason Statham for Bryan Fury, cool actor but with his accent I would say he would make a better Steve Fox, (that's only if the most recently added fighters from tekken5 are in the movie too) Eddy Gordo could be played by Wesly Snipes (he does Capoeira). And Bruce Irving could be played by Michael Jay White.
As for Hworang, I'll keep thinking!