DOA3 is a good game, but DOA3 is a weak game. Here's the thing, there is NO single player mode worth talking about, but the multiplayer action is awesome. The fighting system is one of the better balanced ones that you will ever come across. While not as "technical" as Soul Calibur, it does get pretty deep pretty quickly. Also, weaker players won't win as many "fluke" matches as with other fighting games (Eddie Gordo anyone?). Much of the technique is based on timing and fast reactions.
There aren't too many options at all, and finishing the game is more of a chore than a joy. The tag mode is back as well, and it allows for the same two to four player mayhem. New outfits are available you can get a copy of a booster disk (from the Official XBox magazine). It's a pretty cool addition that I hope other games will take notice of.
Overall, don't get this expecting a Virtua Fighter 4 type single player game. Only pick it up if you want to beat your friends to a pulp and then talk about it the next day.