Some might hate Soul Calibur V for what it's not, but if you want a fast furious fighting off and online check this out.
Presentation:
The menus are ok looking, not much has really changed or evolved since Soul Calibur II. The opening high-definition cut-scene that the seems to define the series opening is not as good as it was in previous renditions of the game. But this factor is somewhat minor, as how many times are you really going to sit there and watch the opening cut-scene on purpose? My biggest complaint is the weird menu systems, and the loading screen (which still just says "loading") and the various 90's esq RPG map-menu systems. With all the stylizing of graphics and other games, the overall presentation outside of gameplay in this game seems untouched since the 90's. It needs to be updated.
Gameplay:
The gameplay and fighting is as solid as ever. Many of the characters remain the same, of course there are a few new ones and even younger replacements for the previous young characters (how come they don't replace the old characters like Ivy and Voldo?). Many of the moves are the same as in previous renditions of the game. But the system works as good as ever. There's a soul edge meter and certain moves require the use of this meter and those moves look pretty amazing and when pulled off right, often cause tons of damage. This new feature works really well, but can't be abused or over used, I've won many a match without the "super moves" thing. The characters are all pretty balanced which is important. The fighting is fun, furious and intense. Blocking also uses up your meter so this particular soul calibur allows for faster-more furious battles.
Single Player Modes:
There's a storyline mode proper this time. It's about 20 some odd fights with a mixture of quality HD rendered cutscenes and some storyboard-sketches with sound. I think it would have been better if the story was told using either one kind of cutscene or the other, the mixture of both feels sloppy and disjointed. The arcade mode is 6 rounds instead of 10, there's no tower of souls this time around and no individual storylines (which I never really followed anyways). There is a legendary hard arcade mode which reminds me of later levels in the tower of souls, aka impossible. The other offline mode that's good is a quick fight, where you fight against other computer players who have rankings some of whom are easy others which are hard. Besides training mode and vs. mode, basically all modes allow you to level up your number level (different from your online ranked matches rank) which allows you to unlock equipment and player titles.
Graphics/Sound:
The graphics look outstanding. I'm not sure that they really look better than Soul Calibur IV or not, but the point is they look really good. In game fighting is smooth fluid, and fast. The sound sounds good and nothing ever looks or sounds really out of place. There still is some screen tearing with the characters and their equipment/weapons particularly with the custom created characters, but that's mostly forgivable and not really noticeable.
Character-Creation:
My first round with character creation in the Soul Calibur series was with Soul Calibur 4. The mode was robust, but when you had to worry about stats and all that RPGish stuff, I must admit I found my creativity a little squelched. But all that burdensome stuff is done away with in Soul Calibur 5. The options are great (not amazing) and I've made recreated various characters including: Jack Sparrow, Nathan Drake, Cole McGrath, the Hulk, the Joker, Harley Quinn, Gandalf, Aragorn, Legolas among other custom creations that came from the depths of my imagination.
Online:
The online is good. Some of the choices are a little odd, like this map like setting where players chat and occasionally challenge other icons/people to a fight. I stumbled into this mode, couldn't figure out why I was there and left. There is this casual unranked room/fight mode which is neat when it works. But when a host leaves, the room is closed and you can get kicked out of rooms by brats who can't stand losing (some people take this game WAY too seriously). The ranked matches are good, you search for one other player that it pits you against that goes on your permanent record.
Conclusion:
If you're going to get this game for a "story" or various other single player modes, don't. Some die hard fans of the series will want this game anyways, and some will be disappointed with what it isn't rather than enjoying what it is. If however, you want to play against other human players both online and on the couch in the latest and great Soul Calibur glory, this game is lots and lots of fun so long as you don't take it to seriously. But then again, when was Soul Calibur as a series meant to be taken seriously, now that I think of it, when were video games, a form of entertainment meant to be taken seriously? Seriously, people, if you want to fight others (especially online) in some good old Soul Calibur fun, then get this game!