Let's try to focuse on the positive.
My copy is still underway, but after reading the Kao Megura faq, and your opinions, I feel that this game (like SSV before it) has really deep gameplay, with several gauges and special moves to utilise. And the speed of the game has also had some praise. This might just be my favourite SS yet.
When comparing to SSV, I think SSVS is clearly the better game.
Even though SSV had the story mode, it was in japanese, so it was useless. So no cheesy, misspelled banter for the western audience in SSV. Note, that this is the case with SSVS also.
Even though Poppy (button code) and the two mid-bosses (bios) aren't in SSVS, they are more than made up by the three classic bosses and one non-classic. Overall the character roster is bigger and stronger in SSVS, and you don't need to fiddle with bios to get them all.
The game balance has been (nearly) optimized, which can only be a good thing.
Some new backgrounds and a better Intro (so I've heard) are also a plus for SSVS.
I don't think it's worth it to buy if you already own SSV. But if you don't, there's no reason to hold back. This seems like an awesome game. But maybe the FATALITIES would have pushed this game into "must-have"-territory.
But since the fatalities ARE in the MVS version (so Kao Megura says), I'm remaining optimistic about finding them through bios.
But overall, this whole thing with the fatalities is a damn shame. Looking at the vids of them, makes me feel that Yuki has some real talent in animation and a stylistic eye. They would have rolled straight into many a fan's heart.