This is my opinions on what I have played, note that I have not completed every story.
Gameplay: Fundamentally good, the combat is deep and the numerous fightings styles are very entertaining. Characters such as Jak and Sackboy stand out to me as interesting and hugely inventive. Other characters are pretty average but did what they were meant to do; Heihachi, Dante, Spike and Ratchet come to mind, they are all representative but expected. The only thing I didn't expect was Sir Dan, he is sluggish yet amusing! He is slow but if used to a decent standard is a great fighter. Overall the gameplay is very good, there is no doubt SB made a fighting game and create a wholesome experience. In this respect, it's a success. 9/10
Story: Rather irrelevant for a mascot game but it was rather non-existent. I don't feel it would be fair to judge a game on this alone so I'll group it with the general experience of story mode. It's what I expected (Again only played through around three characters) It felt more like a distraction from online mode rather than anything. Compare this to Smash Bros. (Don't hurt me) Where the story mode was immense and I felt rewarded for collecting the trophies, I just wasn't excited to play through All-Stars again. After the third time it began to feel like a chore and I moved onto online. 7/10
Online: Does the job, I would like to as, is anyone else experiencing very bad glitches still? It may be because I'm not currently in the US but every game it feels disjointed due to an, almost, game breaking glitch. It's almost as bad as the beta for me but I'm sure it will be patched in the future. 5/10
Other Options: The game is fairly limited and this is what disappointed me, the leaks showed us everything I cared about. For a £40 game this isn't worth the money but it is just my opinion. Lack of content seems to be a common complaint and I can't argue with it. 5/10
Overall: This could've been a very good PSN game but the limited amount of content doesn't hold up well. I was really excited upon getting an early play and during games I understood what they were trying to do and it does work. The core of the game is the only thing that is excellent however and this simply is not good enough. I don't want to say a missed opportunity because there are aspects I really enjoy, perhaps when I have a better online experience this game could be the must play PS game of the year, but it's not been. My expectations were probably never going to be met so I was going to be disappointed coming away from it, I just wished I wasn't.
7/10: Excellent gameplay wrapped within an average game.