Soul Calibur IV:
BUY IT.
Full-fledged character creation, seamless online, and extremely fun. I heartily recommend this. And avoid the 360 version - Vader is leagues better than Yoda, and you get the install load times.
Plus, it's the best thing I've seen in motion in 720p... I played for like 5 hours and I'm still drooling.
Plus my female Nightmare-style character Ada is not that bad looking. At all. Hubba hubba lady-pirate.
Also, I got the premium edition, and it's totally worth the $10 - you get a t-shirt, a tin AND a seperate game case, a tournament grid + free minisharpie, EXTRA character creation content, and an art book! The extra character content is worth it alone.
When ANYONE gets this on PS3, my gamertag is Dynendal.