Here it is the sourcecode: IndieLib 1.01 Source.
when I have to draw background(320*240), two person spirit, some words, other four surfaces, can 20ms be enough to do this?]
? Only? Of course!
IndieLib is a hardware accelerated engine, you can use a more much higher resolution. Just try the stress tests of the SDK (the one of the ufo's, for example). You will see that they run quite fast, and they are using thousand of sprites.
I think IndieLib is a good option for a fighting game. You can use the animation system, together with the collision system per frame in order to check the collision between your spirits. I mean, if you have an animation of 10 frames, you can set up different collision areas for each frame and check collision between group areas of this entity and another entity. Just check the tutorials on the wiki.
Are you going to have your own graphic set or are you using sprites and backgrounds of old games?
Don't forget to open a post in "project" section with some screenshots. We love screenshots