I didn't play the console versions,... on it's own the Vita version plays great.
I'm more than satisfied, and I can recommend it with a good heart. If you like sports games this one gives a good challenge and it's fun. That's really the main thing I'm looking for in a game.
And most importantly for me, a somewhat casual soccer fan, this game will more than hold me over until the next batch of Vita games hits the shelves: Assassins Creed 3, Black Ops, Street Fighter vs Tekken, and Battle Royale. Oh yeah, I'm actually planning on building a character in that Ragnarok Odyssey game. I love the slow burn RPG's.