Great graphics and addictive controls make this a classic despite its diminished amount of fighters...
Graphics wise the game is very sound for its time. The boxers look exactly like their present day comtemporaries (except Patterson who is just too buff for his own good. The gameplay is very responsive. Depending on the configuration one chooses, the gamer has full control over the fighter being used. The option to heal your chracter at the break between rounds is a sweet addition with the corners giving their two cents worth and hints. Hint to EA: Wish we could have more to say and not just repeat ourselves all the time ;) Fight Night Round 3 reached all my expectations except for one big factor... the amount of fighters were just too limited. Why place Floyd Patterson in the mix and leave out Joe Louis, Rocky Marciano and even Lennox Lewis among others? Many other fighters from the different weight classes desereved a spot in the game who are both current as well as classic favorites. The names are limitless if you think about it.
Hopefully EA Sports can improve on the next installment but otherwise I'd say they did a good job.