***Coming Soon*** Soul Calibur III:Arcade Edition

"Soul Calibur III: Arcade Edition is a re-tuned, re-vamped, and, most importantly, fixed version of Soul Calibur III. Naturally, all glitches found in the console version have been fixed. In addition to that, we've re-tuned the overall balance of many moves and re-vamped Amy, Hwang and Li Long as official characters. All three have been revised into more unique move sets and help to expand the already expansive Soul Calibur III line-up." - WCMaxi (Namco Producer)

The game has 3 modes:

Training Mode - Standard training mode, which one can train the characters' moves in a set time of 300 seconds.
Standard Mode - Classic Arcade Mode from past incarnations. The mode comprises 9 battles in a row, without cutscenes or endings. The 8th fight is always against Inferno, while the 9th can be against any of 3 random choices: Abyss, Night Terror or a random Legend Character from the machine.
Legends Mode - The new mode, which is similar to Soul Calibur II Conquest Mode. In this mode, the player chooses a character to use, then a legend character (which is not the chosen character) to challenge. The player then fights eight consecutive battles to gain experience and levels, facing the challenged legend character at the 5th battle, and the player's equivalent legend character at the 8th battle.

As the player's character gains levels, stat points may be allocated to improve the character's innate abilities. Players gain more experience the better they perform in battle.

These are the following attributes for a character:

STR (Strength) - Increases the character's attack power.
DEX (Dexterity) - Adds special effects (Auto-Guard, Guard Damage, etc.)
VIT (Vitality) - Increases the life and survivability of the character (Life Drain, etc.)
LUK (Luck) - Increases the chances that a character might win (Auto-Parry, Poison, etc.)

The player's character is only temporary unless they are able to defeat the equivalent legend character and surpass their level.

For example, a player chooses Siegfried and wins at the 8th battle against the Legend Character Siegfried (Level 60). Upon the defeat of the Legend Character, the player's Siegfried was able to get to Level 62. The player is prompted to enter a name for their character and the player's character replaces the old Legend Character Siegfried.

If the player defeats the Legend Character (8th Battle) but is not able to surpass their level, the options of powering up or powering down the Legend Character become available. Owners of the Legend Character would end up choosing to power up their Legend Character. Others would power down the character to make it easier to replace that Legend Character. Defeating the challenged Legend Character (5th battle) would also give options for powering up or powering down that character.

Losing to the Legend Character (8th Battle) only gives the option of powering up the character. Players may also choose to do nothing and leave the character as is.

On the average, players will be able to get their character to level 60. The default Legend Characters start at level 50. Based on observation, the attribute limit is 200, and the level limit is 999.

All the character roster of Soul Calibur III returns for the arcade version except for Abyss, who is unplayable. The Bonus Characters Hwang Seong-gyeong, Li Long and Amy Sorel, who are reworked to form part of the standard roster, and the other 14 Bonus Characters are not present in this version, making 27 selectable characters.

Source:
http://en.wikipedia.org/wiki/Soul_Calibur_III#Soul_Calibur_III:_Arcade_Edition