I've played all of the Fight Nights for PS2 and it's one of my favorites. Such a favorite of mine it is that I just went right out and bought it rather than rent it from gamefly because I knew I'd want to play it when friends came over to the house.
The heart of the gameplay itself is great - the system for punching, defending yourself, countering, realistic exhaustion, etc is beautifully balanced and really does an excellent job at forcing people to think instead of just mashing buttons. The number of styles and strategies possible from the time you first start creating your boxer to the point you get in the ring is overwhelming and I really like the fact that they toned down the haymaker and other power punching strategies to where you really need to think about it before you just jump right in and start throwing big punches.
Where does this game make me wish for more? Well, the career interface is kinda limiting. Pick from three coaches to train you (plus the burger king guy, if you unlock him), pick from a bunch of expensive equipment that supposedly boosts your stats (though I can't tell a difference and it's not reflected in my stats screen, either), and go through several repetitious training games. I tend to like games with character development but I'm already burned out on the development in this game and would prefer to just skip to the fight itself.
What else? Headline news between fights would benefit from being a lot more varied and accurate, as would the repetitive in-fight commentary that seems to be very black and white based on a few limited variables in your fighter stats, style and your previous record.
Also.. what's with my trainer talking about cuts on my face when I don't have any? What's with him blowing a small swelling on my right eye WAYYY out of proportion? What's with the people in the background being more pixelated than the original Mario sprite in SMB for NES? What with almost every ring girl having an identical build?
I so far have been disappointed with all the EA titles on the PS3. This one is no exception. In comparison to it's xbo360 version, the graphics are worse. The look as if they were hurried in doing it. Somewhat grainy around the edges. Wait till the next year's version before purchasing, I'm sure they will have more time and make it better than then 360 version.
If you only have a P3, then this is ok. It appears to have all the same features as the 360 one.