It's very fast and smooth if you've played Blazblue or guilty gear it's similar. Story mode is a sequel to persona 4 and made by the Persona team so they would have put a lot of effort into it. Story is 30-40 hours I've heard from review sites. Arcade mode, story, versus, challenge mode, online, training mode. Same netcode that arc system uses for Blazblue which is the best this gen.
Ya after watching the youtube vid of the story of Yu, I can honestly say that I would hate the game. Love Persona 4, but the story seems dumb. Literally like 1 hour of cutscenes before each fight. They aren't like Mortal Kombat cutscenes either. It's sprite based and just pictures of characters talking with subtitles. Not getting it, but thanks for the replies.