Thanks to everybody that recommended I pick this game up.
I picked it up along with NFS Shift 2, and invited a bunch of friends over (and told them to bring beer) so that we could play some games.
These are the same guys I play fighting games with. VF5, SSF4, MvC3, all those. So we played some traditional fighters, and then I threw in All-Stars.
At first they were like 'WTF' but I told them the game had characters like Hogan, Macho Man, Stone Cold and Rock, so they could play people they knew.
We started playing WWE around 9, and expected to get back to the 'real' fighters within an hour. We were up till 2 am drinking beers, laughing, screaming, the whole deal. One of the best on-the-couch multiplayer sessions I've ever had.
If I never play the game again (which is unlikely), it's already paid for itself in full.