Maybe it's just me....But.... there's actually 2 "buts"
Then there's the story part, or lack of story part. It is kinda lame. You do get some rivals and it is fun to kick their a** but that's just about it.
It wouldn't have dissappointed me this much if it wasn't EA behind. If it was just some little new firm trying to make a name I would be thrilled with this. I expect more from EA.
But... (here's the second but) I like this game. No matter how much critizism I have towards things that should be better. I think it works pretty well even though. I bought it for the multiplayer reason and my friends and I love to box each other. And the fact that there's no "health-bar" is sweet. You can only by judging from the behaviour of your boxer see in which state he is. And by some time you get to learn that the angle of the camera is very telling as well.
Oh, and one more thing. The hay-makers are hard to master but a sick weapon. By throwing these special punches you can alter a round and maybe get a knockout. Really really sweet.
Would I recommend this? hmm... yes.... But only to people who can live with the errors described.
If you can do that, then get ready to rumble!