I had high hopes, but at least at first, it's slightly more confusing. There are like five different control setups, though. The main trouble is that you have to control the distance from your opponent by tilting forward and back with the controllers, and that resulted in me moving around a lot when I simply wanted to punch. In multiplayer, shifting around your opponent often ends up with one of you ending up off-camera somewhere.
Of course everyone else seemed to beat me pretty easy (even though they didn't understand what they were doing either) so maybe some people can pick it up easier than others.