I currently have the PS3 version only. With the game installed, the loading is slightly faster than the arcade version.
I have a shitty internet connection (thanks to our infamous ISP in my country). I can't comment on the netcode.
Story Mode was rather very short. It left me wishing there was more, but different scenarios lead to different cutscenes, so you may want to play it few times to view all of them.
I can confirm there are no additional characters or mid-bosses in the game.
In Story mode, you can't edit teams. Also, instead of having pre-fight convo between single characters before each round (like in Arcade mode), the entire crew of both teams are involved in a group convo before the match.
In Story mode, you only get to fight 2 teams, and the final 2 bosses. That's it.
*** Edit: I've tried different scenarios with different teams, and one time I got a 1 vs 1 match, fought 3 teams, and the final 2 bosses.
The story is detailed and well-presented. For the first time, I started to like Ash lol.
Billy is drawn very well. His animations are smooth. He appears as a mid boss in Arcade mode (with a "Here comes a new challenger" message) and he becomes playable after you defeat him.
The Trials are so fucking tough.
There are so many things to unlock in gallery mode. Some of the arts are entirely new.