I agree with the Game revolution review. Its the most honest evaluation of VF5 on the net.
The graphics dont match up to what DOA has accomplished on the 360. Although the characters look good, single tier environments, tired uninspired backgrounds, and no "fancy cell effects" really do keep this away from the "next gen graphics tag".
The gameplay is still good...if you are a VF5 fan. This game hasnt changed one bit - its nearly identical to VF3. Lack of online play and play modes severely hurt.
I much prefer the DOA, Soul Calibur, and Tekken series of fighting games. VF still has its fans, but its clear that the series is in serious need of a complete overhaul.