The only complaint I have with offline play is the lack of SDTV-support (its very difficult to read the move lists, and the micro-text tickers are nigh impossible to make out). The characters are great as always, the gameplay is solid, and the new mechanics aren't unbalanced (at least not yet), the stages are nice, the customization is great, and the music is fantastic. Well, at least most of it is, anyways (LISTEN: http://www.youtube.com/watch?v=VuBKuYMqtgQ ).
Online, however, is a different story. The lag is dreadful so far (there is input delay on the character select screen), but I have faith that a super-patch is on its way. Until then, Training mode is the only mode for me.
Oh yeah, the player base isn't very good from what I've seen, either. I had one guy flame me because I beat him by blocking his attacks and attacking him back too much. Ugh, those types of people don't deserve to play video games with other people.