Dead or Alive 2 is a graphical tour de force on the dreamcast. While it can't match the sheer beauty of soul calibur, what it does, it does well.
The fighting in dead or alive 2 is fast, beautiful, and often looks like a well choreographed martial arts movie. Each character has a large variety of moves, and some take advantage of the environment. Pinning someone against a stain glass window, then proceeding to beat them senseless and watch them fall through it has never been so gratifying.
The character models are georgeous, and varied. There's nary a seem, or bland texture to be found. I've found that the character's personalities in this game really give DOA 2 a fell all it's own. You feel sad for Zach as you watch him endlessly persue Tina, but end up mostly laughing at him.
This is the SECOND best fighter on the DC. If you already own soul calibur, go buy this. You won't be disappointed.