Its good but lacks depth
What this game has going for it is some great characters and good looking visuals. The audio is wonderful as well. Physics are near perfect for your shots. Controls work really well too. Overall what is there all works very well.
The problem is that there isn't much to do. You can play in exhibitions and tournaments and that is it. Online play is available, but if you don't have a friend who is into this game you probably wont be able to find someone to play against. So even if you enjoy this game, like I do, you'll probably have a lot of trouble playing it for any extended amount of time.
Since you can get this game for somewhere around $10 now, if you're curious just go ahead and buy it. It is worth the low price, but thats about all it is worth. The game is more comparable to a very good looking and good sounding XBLA title in terms of depth though.