There is a lock-on system, but I wouldn't say it "solves" the camera problems.I can't seem to wrap my head around the combat. You're supposed to parry in the direction of the other person's attack, but half the time the camera is facing Raiden head on and I can't even see who's attacking me.
I love the over-the-top action, but I'm not too crazy about the gameplay. I really wish it had a lockon system to solve the camera problems.
I'm using Type B, because I like flicking the Left analog stick to use the sword in Blade Mode, and Lock-On is Right Bumper/R1.