Well, I got the game today and played it most of the evening. Here are my impressions.
The fighting itself is quite solid and has some neat concepts. The game is quite heavy on arial attacks and combos, and seeing videos how it really gets, the mights can get quite intense. The roster is small with only 11 characters, but they are all unique, and there is some customization elements in a way. You also can choose between 11 arcana to go with your character for an additional set of moves. Since each character and arcana have exclusive movesets, it is an interesting way of configuring how you want a character to play, but still retain their own individuality.
As for the story mode, it's nothing deep unsurprisingly, but it has its share of amusing moments. Like many fighting games, the final boss is extremely cheap, making me resort to beating it on the easiest diffiulty.
It may be an all-female fighter, but there isn't anything ecchi, with the exception of one character somewhat. Only kind of fanservice is that the cast used various popular archtypes in several animes. It is a nice, clean fighter, but just all female. :p
I just personally wish the game had a little more variety in a few things like stages and gameplay modes, and a few more characters. Then again, this is the first installment of the series, and it made a real solid start. Plus, it is $30.