3D graphics & multiplayer battles are not good enough. Multiplayer is convoluted and 3D play and graphics are sub par.
Graphics - 3D graphics are a step up for the franchise but still, it pales in comparison to other 3D fighting games made at the time (2000) or since. In fact, I've played Tekken Tag, Virtua Fighter, Pride Fighting Championship, Soul Callibar 2, and Dead or Alive 3 .... Street Fighter Ex3 is hands down the worst 3D graphics out of all of them. In fact you can't even really move up or down in the ring ... it is essentially a 2D game with bad 3D graphics.
Gameplay - Gameplay is too easy for 1 player mode no matter how difficult you make the settings. The difficulty settings for this game are nothing like regular Street Fighter versions such as Street Fighter Anniversary or Capcom vs. SNK Evolution. In fact, the only reason it seems to get this game (which is why I tried it) is for the multiplayer mode because unlike other street fighter games, this one promises to allow up to four players to fight at the same time.
Gameplay Multiplayer - The multiplayer mode is lacking. For example, if three friends want to play a simple 2 on 1 match (not tag but all at the same time) they won't be able to because this mode isn't on there! But, to be fair, the game does offer a large amount of multiplayer modes but they missed an obvious one like the one I mentioned above. But probably the worst thing about mutliplayer mode is that it just doesn't seem to work in terms of gameplay because if there are more than two fighters on the screen, there is just too many things going on at the same time for you to be able to grasp what is going on. Its like things are just being thrown at you for every direction and all you can do sometimes is mash buttons and hope for the best. Even if you are an experienced street fighter player you'll find that in multiplayer with more than two characters at the same time you won't be able to really plan and strike your combos in the way you want and that mashing buttons and hoping for the best is just as good a strategy (due to the fact that just too much is going on at the same time).
From the very beginning the single player mode was too easy but I thought I'd give it a try since it is the only Street Fighter game that allows 1-4 players on the screen at the same time. But I'm now returning this game to Gamestop and will be exchanging it for something else because the multiplayer aspect of it is just not fun enough to entertain friends when playing all together due to how convoluted the multiplayer mode is when playing with at least three people on screen.