Okay, so I just played through w/Haohmaru.
This game has everything EXCEPT gameplay going for it, IMO.
The graphics and animation are fine, the textures are better than I expected, the roster is fucking wacky as hell. Cowboys and indians and vikings? What the fuck? This is insane and goofy and a fun roster, IMO.
Backgrounds are cool if lacking in any real depth. The music is very good, IMO. The voices are perfectly fine, and it's all in Japanese. Playing in English just means an English announcer and Engllish text on the screen.
The game controls poorly, IMO. And the combos aren't that interesting or fun and sometimes rely on neutral pauses between motions (which I've never liked.). The special maneuvers are cool to watch and have a lot of 'energy' in them, however. The animations are very 'strong' but the characters move slowly.
Defense is high/middle/low, which fits a 3D theme but isn't really my bag. You can circle around your opponent too. Haven't done enough 'practice' with the game to see if there is a quick sidestep.
The story is 'whatever', and except for two or three cutscenes plays out as text on the screen. Definitely the most underproduced part of the aesthetics.
All in all, I'm not disappointed I bought it and it's got some cool samurai aesthetics to it (along with some other crazy shit), but its gameplay feels ten years old by 3D fighter standards. From what I remembers of Warriors' Rage, it feels like the next iteration of that series.
My .02