The gameplay is actually decent... it's the lack of modes that hurt the game
On the graphics side of things, this game looks pretty good. The wrestlers have cartoonish looks to them, which help define the game's personality.
On the gameplay side of things, it's solid. It has an arcade feel to it, which turns ome people away from this game, but really it's a fresh turn from recent WWE games. The controls do have somewhat of a learning curve. The roster includes over 40 characters as well as the ability to make your own. Also, you can import the roster from WWE Smackdown vs Raw 2009 and have a massive roster to create dream matches with.
The thing that really hurts the game is the lack of decent game modes. The first mode up is Wrestlemania Tour Mode, where you relive past matches as well as changing the outcome of others, while doing specific tasks given within the match. Now, while this makes the matches interesting sometimes, it can be really difficult to figure out what to do half the time, thus making it a hastle to do tasks.
The other main mode is the Legend Killer Mode. Here, you take a created character and fight a certain amount of characters trough 1 on 1 matches consecutively. And that mean no interruptions. You can finish off 8 out of the 10 guys on one Tier, but you cannot save and come back later. This hurts the mode badly, as doing 1 on 1 matches one after another become tiresome and boring. Not to mention theres 7 or so Tiers (One which contains the entire roster of the game).
Now, you do have a good amount of match types ranging from 1 on 1, Tag, Ladder, Royal Rumble, Cage and more, but you wont see them much through the course of the game unless you set up your own matches in Exhibition.
If you are a fan of oldschool WWE, I recommend renting this, only buying it if you see it for $15 or less. If there was a decent Career or Season mode, this would haev been a good game, but the way it is, it sits in mediocrity.