Got Persona 4 Arena. Brief impressions after a few hours of messing around, mostly-online:
-I'm not normally one to talk about this, but wow- this game has some great presentation. It really keeps the feel of the recent Persona games and has some familiar P3/P4 music on the menu screen.
-Lesson mode is a great tutorial for new players and there is ZERO load time going from one lesson to the next!
-There's not as much going on when playing on certain stages, but P4 Arena is easily Arc's best-looking 2D fighter to date- beautiful, clean sprites and bright, detailed backgrounds. I love the P4 main character's theme music, too. Wish more stage BGMs had vocals!
-Still not too sure what to make of the game play just yet. It almost feels too simplistic at times, especially compared to BlazBlue. It's fun, but it also feels too "easy" when you can just press the light attack button and watch your character do an auto-combo-into-super automatically if you have the meter available. But there's plenty of game play features and obviously if this game didn't have real depth, it wouldn't be so popular in J-arcades.
-That said, I think this game is going to be much, much easier for people to get into than some of the other Arc fighting games. Most of the characters' moves are also just quarter-circle motions and charge moves...nothing really more complex than that.
-I've only played against Japanese players online, so that's left me kind of locked into playing ranked matches-- almost every player match room was set to not accept lower-bar connections and everyone shows up with 0 bars, as I'm sure I show to them. Most of the matches I've played have been on the same level as BlazBlue and Arcana Heart 3...very, very good connection quality, and again that's with the connection bar showing as ZERO! There's no pre-fight sync-slowdown that I'm seeing though...you pretty much know right away if the connection quality is going to be good or not.
-Arcade mode has some brief story and dialogue sequences between the characters. Tried Story Mode briefly and it really feels like a different game. Very much like a visual novel...if it's true that this mode has 30-40 hours of content, I can definitely see it appealing to non-fighting game playing Persona 4 fans. It really is a direct-sequel to P4, taking place two months later. I'm staying away from this mode until I play P4 on Vita.
And this guy is my favorite character:

Teddie is just fun as hell to play as!