DOA5 has a lot to offer.
First, the story mode is done very nicely, it is a character introduction, story and tutorial all combined together .. and while the story isn't ground breaking in any way it never takes itself too seriously and even when it does it's still damn funny and entertaining, the tutorial aspect covers most of the basics and delves into the advanced techniques in the game .. new players should really finish the story mode before trying anything else.
Aside from story mode there are the usual Arcade, VS, Time Attack and Survival mode (aside from the excellent practice mode), there is also the option to play Tag battles which can be a lot of fun.
The visuals are upgraded significantly and there is a nice attention to detail (detailed faces, sweat, wet/dirty clothes, fully destructible objects .. etc etc) .. not to mention the stages are huge and filled with nifty details and multiple fighting arenas per stage and the "danger zones" mechanic makes them even more interesting.
There are many characters both male and female (and the addition of 2 Vitrua Fighter characters is welcome ^_^), each has at least six outfits per character (2 unlocked from the get go and the rest unlocked through the other modes, while story mode unlocks characters), and of course the infamous bikinis for the girls this time are going to be DLC XD
DOA5 is really a full package of goodness, interesting technical combat system, fun stages, sexy characters, lots of different modes .. etc etc ... if you see nothing but "boooobies" here then you are surely missing the point and can't see beyond your nose.