Meh. I am probably one of the biggest FOTNS fans alive, but I hate Musou games. If you want a good HnK game play the PS2 fighting game or the DS comic-game
I can get behind the DS game, but the PS2 fighter? Seriously? I find this game a much more rewarding and honest-to-the-source-material experience.
Gen has it right: It's visceral. Every hit is meaty and pleasantly fulfilling. I really hope that some DLC is made at some point, because this is already a good start and I can see it being easy to expand upon with the Dream mode.
You didn't like the PS2 fighter? It's incredibly fun and It has so much fanservice to the manga it's insane. Shin even has a special suicide move. YURIAAAAAAAAAAAAAA! Arc System Works knows how to game a decent fighter.
ASW does do good work, but FotNS isn't their shining moment. It's incredibly broken. Fun? Sometimes. But not the deeper level of fun I expect out of a competent fighter.