Only hard-core fans of Inuyasha can really understand and play this game, but you still might want to rent it first.
The way the system works is that you are on an all 3D feel where you can roam freely instead of the 2D side-scroller fighting. With attacks that can link into each other when performing combos to activating your special ability or using a tag team attack combo, you won't get much fun out of it since that's basically almost all you can do in just 15 seconds. The main combos become repetitive and there aren't many moves to learn or use while the specials are different for each character, they can perform it a little too much, causing you to watch the same move event over and over. Mainly, fights can have four characters on one screen duking it out with each other, though that may sound fun, it's not. Two people are teamed up together going against one another, while your partners are AI controlled, they perform horribly. They tend to follow the player around until you stop and then they attack at the same time you do but only weak feeble attacks, not much combos in it. So pretty much you are better off alone.
Life is still used of course as it's the only way to win and die in a fighting game, but in Inuyasha: Feudal Combat, you have lives you live off of during the battles. Meaning if you are completely knocked out, you come back to life using your lives you have available. The battle doesn't end either, it keeps going on until the players lose all their lives. This really doesn't make it all that fun either after some time.
Mainly, the only feature I really found fun to do was to play the story modes for each character available. Such as playing Inuyasha's story or Sesshoumaru's story, these are taken directly out of the anime and allow you to live the anime it this fighting style gameplay. I may say it is fun, but I didn't say that it was long either, the length of the story modes vary for each character, some are also short as well as like only 4-6 battles and you end the game.
Overall, this is a game that I enjoyed for a weeks period and soon allowed it to rest in my collection since I am a fan of Inuyasha. Other than that, I wouldn't have bought it, but for others, you will not be satisfied with this because it just lacks too much. The most I can really give you is to rent it first and then give it judgement of your own. It's all up to the players.