After a mild departure from form in SoulCalibur III (not to mention the fact that it was annoyingly platform exclusive), Project Soul appears to have gone back to the drawing board with SoulCalibur IV and revived the focus on high-level competitive play that made SoulCalibur II the definitive fighting game of its time.
WorthPlaying recently got some quality hands-on time with a demo version of SoulCalibur IV, and even though it was extremely limited in scope, what they did play was indistinguishable from a finished title.