After a few fights:
Graphics are really good
Controls feel good even though I have no idea what does what. There is a brief tutorial.
When there is a knock out you can just stand over your opponent, not sure why the ref does not run over to the guy who got knocked out.
When there is a decision I don't like how they don't say how each ref scored it.
Obviously I have not put in a lot of time with it, but I will probably wait till the price drops on this. Even if it ends up being good, there is just not a lasting appeal with fighting games for me.