Its pretty much a basic fighting game, but beautifully 3D (Looks very nice on a PSP) with very nice Japanese voice acting. At first there's only an arcade and mission mode, but if you keep working on it, you'll get survival mode. There are 16 characters (2 you have to unlock) in all and each one is very unique in every way. There's also tons and tons of unlockables from characters to costumes and even the voice of the announcer. If you don't know anything about the series at all, that's fine, there's like four graphic novels for it that only came out in Japan anyways, and the fighting pretty fun and fast paced. Its a nice game that grew in barely any hype, but you know what? It doesn't need hype, Instead it decided to replace gameplay with hype.
In the end, its a very nice downloadable anime-based fighting game that opens a window for Fate games outside of Japan.