Soul Calibur 4!

They took out some of the modes from SC3, but I really don't miss them all that much. The character models are great, the create-a-fighter mode was expanded a ton, and you can even give all the regular characters the same swappable clothing. Idealistic is right about it being a pretty game, all the fabric flows nicely, the moves fluid. They fixed a lot of the balancing problems that SC3 had.

In the 360 version, Yoda is a little cheap, but makes up for it by being slow as hell. The Apprentice is cheap, but with the right fast character, you can take down the average player using him online (in non-ranked matches).

Easily the best Create-a-Fighter mode in any fighting game.