It's great, works well, and is different from most other boxing games (which there's almost none).
The gameplay essentially the same, with the Total Punch Control being improved. The new haymaker feature is fun, but at times, you would just be using this feature for almost the whole match. To counter this, your stamina goes down, but really, that does not stop one from making the big hits on your opponents face. Another feature is training your boxer up, improving his stats etc. You can choose between speed training, power training, or normal training. Purchasing more expensive pyrotechnics and women for you grand entrance will give you an edge in the ring, but one would skip the entry so essentially, you're buying these just for an advantage in the fight.
The graphics are as sharp as Fight Night, and you can see added detail on the boxer models. More sweat and better lighting on sweat drenched players are easily seen. The crowd is left a little to be desired though, and the showgirls are really not that great looking.
The sound is okay, nothing special. The crowd chants the name of whoever is winning or is close to a knockout. The punches sound great and quite dangerous too.
EA has done it again with their list of chosen tracks, meaning you should turn on your CD player next to you unless you really enjoy EA Trax.
All in all, a great game for the franchise, and worthy of a purchase if you want to make meat pie out of your opponents face (or your friend's).