This game is virtually identical to the Dreamcast version. Both versions are a lot of fun, but the Dreamcast has much sharper graphics. As it is, the PSX version has so many "jaggies" that the game is very hard to play.
Since the Dreamcast can now be bought for $50, I'd say that is your best bet for an arcade style lightsaber fighting game. If you can't afford to get the Dreamcast version, I strongly suggest that you rent this title before buying.