I bought Soul Calibur IV last week for the PS3. I'm a fan of the series, having Soul Calibur II on the Nintendo Game Cube and Soul Calibur III on the PS2.
I was disappointed with SC4. While I haven't tried it out online just yet, the story mode is just very short, it feels extremely tacked on especially since this is a title that is supposed to be on the "next-gen" consoles. In SC3, the story mode at least had dialog in between fights (in the form of text) and a little more freedom. It was flawed, it wasn't perfect, but I enjoyed it regardless and found it much more enjoyable and in the end more rewarding than the single player of SC4.
SC4's single player as I've already said, I feel is very tacked on. It's only five stages/fights long, and there is little dialog in the whole thing. The final cut scenes vary, but it's not too exciting at all.
The new Tower of Souls mode is okay, but at the same time is frustrating. I had to do one fight where you fight one guy, straight after you fight three guys, and straight after you fight three more guys in an arena impossible of ring outs. I had only two fighters of my own, and it was annoying that there's no form of recovery or anything.
Character creation is okay, it's much broader than SC3. But I'm not too sure about all the "stats", nor am I too sure about ripping off another character's fighting form. The customisation is much more broad but I feel it's not broad enough. Again, this is supposed to be a next-gen title. I expected more.
Versus mode is always fun, of course. Some characters though I feel are a bit unbalanced. The Apprentice for example, is very fun, enjoyable and powerful. But some other characters are just.. pitiful, compared to him.
I don't really know, or see how the Star Wars characters fit. In fact, I think it's just down right dodgy. Regardless I will admit it is cool to see these characters in a fighting game.
Now, this isn't really a game play issue but I've gotta say.. what's up with Namco and making the majority of their female fighters all busty and bouncy with revealing outfits? It's kind of hard to take the game seriously with this stuff, and just makes me think suspiciously of the developers over at Namco. Yes, I know the new character Hilde is clad in a full suit of armor, but in the developer videos of this game.. I swear they were using "Look! Hilde doesn't wear revealing clothes!" as a selling point. -_-
I'd probably give the game a B- or a B. If you're into fighting games or/and into the Soul Calibur franchise - buy it.