It's been on my review assignment que forever, but I just now got around to renting it. Played it for about an hour last night.
It's not as horrible as most reviewers are saying. It's not Soul Calibur, or Street Fighter. It's more on-par with the 3D King of Fighters games. Like KoF, Judgment probably would've been more fun on the 2D plane.
Character design is intriguing in that some characters look great, others look absolutely silly, and still others look like they're from a different franchise entirely. I'll keep on keepin' on and you should see a full review by the weekend.