Perfect, just the info i needed. Had a similar situation with Dragon's Dogma, I had to exchange the xbox copy for a ps3 version because the tearing was just so bad.
30$ is just so right - I wasn't gonna get it for awhile but now I'm reconsidering. . .
I'd definitely recommend the game. But bear in mind:
1) Online can be a tad laggy at times, and I keep getting disconnected two-thirds of the way through a match, despite online working fine in all my other games. Maybe it was just a timing issue, though.
2) There's a slight learning curve. Go through the tutorial first. Basically you have light attacks (Square) and heavy attacks (Triangle). No complicated inputs -- not even hadoken complicated. Just Smash Bros-like combinations. It's more about timing, I.E., hit Square, wait a moment, hit Square again, which creates a different attack from simply hitting Square twice.
The tricky part for me was learning, under pressure, how to keep the Killer Weapon and Guarding straight in my head, but after a couple matches, it clicks.
You hold L2 to pull out your weapon; while holding L2, you can use Square or Triangle, on the ground or in the air, to do different weapon attacks. You hold R2 to guard, and while guarding, tap X to dodge (or X and a specific direction to dodge in that direction).
You can dodge three or four times before your character needs a split-second breather. Your weapon is likewise regulated by your KW guage, which fills up quickly as you hit people with regular attacks or get hit yourself.
Note that once someone has you in a combo, it's hard to find a break to guard -- usually it'll be when you hit the ground. Also, you can be grabbed while guarding. Best to put your guard up and roll back with X, or do a 360-degree crowd-clearing attack (rendering you invincible at the expense of a little health) by holding Square and X at the same time.