Great multiplayer fun, even with the small cast.
It's an easy game to get accustomed to, since it shares the same basics as Guilty Gear with a 4-button attack system (difference being GG uses Punch, Slash, High Slash and Kick rather than Weak, Medium, Strong and Drive), which makes it easy for whatever newcomer to quickly pick up the controller and dish out some damage.
The simple execution of special attacks is something that in my opinion encourages new players to test characters out and learn the basics of most of them before maybe settling on a definite favourite one.
The cast of only 12 characters doesn't really bother me as if it were a shortcoming. Each character is unique and invites a player to have a different play style depending on what character they play. Be it the big and slow Tager or the small, but nimble Taokaka the game has characters to hopefully please most.
The online play is mostly lag-free (98% of the times I'd say), but sometimes you can have the bad luck of encountering people with really bad connections which just makes it barely playable.
The graphics are top notch in my opinion, the high res 2D renderings the game uses along with the scenery of the stages sets the mood and doesn't feel off.
The music is another thing that really catches my interest. The soundtrack made my Daisuke Ishiwatari fits perfectly with the setting of the game.
Some of the cons I have to mention is that Jin and his ice can be quite cheap at certain occasions, due to his quite large range on the freeze and the fact that his throws renders your paralyzed in a block of ice afterwards. Also if a player leaves a game mid-fight online (leaves the game in fear of losing, for example), the game never counts as a played game and you neither get points nor any other stats for that game.
I recommend the game to people who love 2D fighting games and have friends that like them as well. It's a fun game to play with your friends both online and offline.