The original 16-bit ROTR was possibly one of the worst fighters ever made. That is, until Rise 2 was released. Not only does the sequel stink as badly as the first, it pretends to be a next generation title. It's just a crudely souped-up 16-bit game with big ambitions.
So as not to completely bag on Rise 2, let's start with the good points. There are 18 characters to choose from, as well as some hidden ones. There are loads of Special Moves and Termination Moves (where do you think they copied that from?) and you can even alter the color palette of your character! Whoopee!
As far as the graphics go, let's just say they're not up to par with most PSX games. The control, however, is the worst aspect of the game. Even though there are lots of moves to pull off, the control is so poor they're almost impossible to do. You'll throw the pad down in anger long before you'll master any moves.
Rise 2 is a prime example of how not to make a game. The 16-bit looking characters have no business being on a next-gen machine, PlayStation or otherwise. Avoid.