"The Bad" in the gamespot review says it all...

User Rating: 6.9 | Fight Night Round 3 X360
Really, when a game like this comes out the most important aspect of it should be replay value. After all, sports games can be the most repetitive of all games if not made well. The hell of it is, this game is really really repetitve, and boring. It looks absolutely stunning, it sounds great, and it's fun for a while, but then it just stops being fun. If this were a racing game it would have GT graphics, Burnout sound and gameplay... but only 3 cars and tracks. For me, that makes this a rental if you love boxing, and not worth even that if you don't. Frankly, I'd prefer clunkier graphics and sound and richer and more varied gameplay.