The animation and graphics are perfect but the fights get boring really quick and being able to use only one jutsu is crap. I was hoping for a lot more from the adventure mode, not being able to run up any surface and lack of rpg elements annoyed me the most. However If you are a Naruto fan you will probably love this game (for a while) once you start unlocking characters. The sannin boss fight at the end of the Tsunade arc is worth buying this game for, it is visualy mind blowing. It's possible they will add multiplayer as dlc becuase they will be adding new stuff every month to the ps online store.
The reason this game is not perfect is probably so they can improve it for the second and I wouldn't be surprised to see a third one. I have high hopes for the next Ultimate Ninja Storm.