The attract mode is playing on my TV now and I'm noticing decreased texture resolution on the floors and in the backgrounds and on the character faces. Jeffry's stomach also looks wrong, like the polys are rotated 45-degrees to make a diamond pattern instead of a square pattern...
Saturn version:
+Tourney modes and more options and gameplay modes in general
+Locked 60fps
-Crappy looking 2D backgrounds
PS2 version
+Higher polycount on the characters, but not sure if original geometry, kind of weird looking
+3D backgrounds! OMG
-Badly textured 3D backgrounds
-Weird frame drops
-Lighting seems off (I'm not talking about "hardcore shading", it just looks wrong)
SEGA YOU SUCK! Worst of all, AM2 did the conversion themselves. HEY FUCKTARDS, JUST STEAL SOME RENDERING CODE FROM VF4, YOU KNOW, THE ONE THAT ACTUALLY LOOKS GOOD!
edit: I'm reading the thread on 2ch and people are complaining not just about the shitty texture work and frame drops, but that the controls seem off by a few frames.