The only reason you wouldn't play this game is because you are scared.
The first thing you're going to notice is how clean and beautiful the game is, from sharp menus and crisp locations, you're going to experience something great here with its presentation. Dead or Alive (the prodigy to VF) is animated better, and is also more fluid, but you still have a very sharp looking game here.
There is certainly a learning curve to VF's graphical style alone. When fighting characters can be smashed to the ring floor only to bounce into the air for another juggle opportunity. This style and look will confuse a lot of players.
Another thing worth mentioning is that frame advantage definitely comes into play with VF4, and this is where things can get really tricky. To win in Virtua Fighter you have use a combination of moves that take priority over your opponents. It's not always clear which moves out-frame other moves because of its graphical nature. Thankfully frame advantage doesn't tarnish the beauty of this game, and when you practice enough, the oddity of it becomes more natural.
There are a lot of characters, and a lot of competitive modes to throw them into. One thing missing is definitely a story line for these characters, and that could be the biggest mistake: falling for the communities typical angst towards fighting game with story.
The replay value totally depends on your level of skill. If you are just looking for a fighter to play through as a rental, try Soul Calibur; Virtua Fighter is for serious fighters only.