This is a fun game. As many have pointed out, the Star Wars charachters are totally out of place, but meh, i just ignore them. Not that you'll be able to ignore the Apprentice in Arcade mode... he's really cheap and hard to defeat. Seriously, play the game a bit in story mode before going for arcade, you'll need some practice.
Everything on screen is well done and looking good, and the sounds do their job. Some people have bad.. squealing while they fight, and a lot worse are the one liners they tell each other before/after a fight. Some are totally horrible. Also i got the feeling that the translations for those get things even worse. Well, every now and then they'll say something so stupid it'll even be fun, but averagely you'll want to skip those "pre battle verbal abusing".
Luckly the gameplay is fun and reasonably complex. Takes a little to learn, and a good deal to master. It's interesting that the charachter maker allows you to build your own fighter from the ground. The tools aren't for absolute customization, but they still allow a good deal of variations in the body. And then there are weapons and armors/clothes. Looking around the net, some people have made a whole science out of the charachter maker, picking out the best combos of weapons and armor to boost the stats to something impressive. Or you can just make something that looks cool, and keep away from the special fights, so that it's just the basic strenght without any weird extras. Obviously they gave us plenty of fan service with this system (i'm stil a low level charachter, so once i had to use cute CAT PAWS as gloves to increase my power.... seriously.) so you can have your charachter basically in underwear and nothing else. Oh, speaking of underwear and armour, the latter has some use, as it actually absorbs the hits. Until it breaks, and then it's full power right to the carachter, this is really interesting. Plus if you go at it, you can basically get the opponent in underwear. It's fun the first couple of times.
There is also a tower of souls mode, that is pretty much a series of fights against a few enemies of growing power. This one is really hard, and can get frustrating.
Online fights can be pretty fun, but you need to find somebody that has a good connection, otherwise it's totally pintless. A second of lag won't kill the fun. It will absolutely kill ANYTHING you'll try to do, as it will be in slow motion and jerky!
I like this game. Soul Blade/Edge started it all and was awesome, and while i had just a brief experience with Soul Calibur 2-3, this one is good. Maybe fans of the series will have something against it, but generally it's a good game.