Okay first things first, it's rather tiring seeing so many people comparing this to SvR, the only comparison is that it involves wrestling and the CAS has a lot of similar items, besides that it's a different game and aimed at a different, wider market.
Places have hailed this game as the most enjoyable game since WWF No Mercy on the N64 and I agree with them. It's a larger than life game with a very good roster. Approach this game as a fighter not as a wrestling game because that is what Allstars is.
The game play is fluid, I don't get how theres a lack of depth to it in other reviews since you can reverse any move and there are multiple reversal animations in different situations. The gameplay is fast and frantic with each "Class" of wrestler bringing something different in terms of strengths and weakenesses.
In game modes, you have your standard exhibition match, Path of Champions which allows you to choose a Legends, Superstars and Tag Team ladder of opponents to face and then at the end fight the champion (Undertaker, Orton and DX).
There is also Fantasy Warfare where two superstars from each pool are pitted against each other, these superstars for the most part are from different generations and never fought. There is an intro video for each that sets the match from simply being an exhibition and it's the method used to unlock the superstars unavailable at the start (by using them).
Online mode is rather here nor there, at times it can be great and others it can be a pain. The main issue is matching, as it can be hard to find a match that actually lets you enter the lobby. Besides that its one of the main selling points, it's more fun than SvR online due to the fact there isnt half as many bugs/glitches that people exploit.
Finally Create-a-Superstar which has got a fair bit of stick from the svr fanboys/loyalists. In truth the actual character building is awesome, when it comes to shaping a specific character with the face sliders, exaggerating things to make them fit in with the rest of the roster it is fun and the CAS comes out looking like they belong on the game (unlike svr where all CAWs look pretty alien and stand apart from the main roster). It lacks paint tool and logos but then again remember this is a fighting game first.
THQ San Diego clearly focused on what mattered with this game, the game itself and the gameplay rather than flash additional modes, something which has made the SvR series pretty tame of later since the game itself has suffered.
My only beef with Allstars is the lack of match types, I'm not one of those people who moans that theres no hell in a cell or royal rumble (neither would work very well imo). I would have prefered more matches for Tornado Tag, perhaps letting us have team cage matches or even introduce a ladder match.
I gave this game 4 stars because it's a brilliant game, it's more fun than svr 2011 and I've not picked that up since this games release at all. However it is not perfect, It however means that come the sequel (if there is one) the game looks like it will be even better.
Very enjoyable game, I recommend it to wrestling fans past and present, fighting fans will also get something from it I reckon as well.