I picked up SCV yesterday, here's what I think of it so far.
Arcade mode: I beat TOLS in SCIV, but I was still having trouble on normal difficulty in arcade. I might just be rusty though.
Online: I haven't played any ranked matches because there is nobody to play with. I did play a few unranked matches though. The MK9-esque turn based lobbies are pretty fun to mess around in. The only real problem with online is that the lag is HORRIBLE. Hopefully it gets better when more people have the game so I can play with people closer to me.
Story: Not bad at all, reminds me exactly like the pre-SCIV story modes. The only thing I don't like is that I had to use Alpha Pyrokolos who I don't like at all, also he is a douche.
Other: I hate that they dumbed down Ivy so much, the lack of whip state removed a lot of her moves.
I've played for 6 or so hours so far and the CAS selection is very limited.
The fighting seems much more fluid which is better overall but makes it easier to button-mash.
Here are some games I played.
If you guys have any questions post them up and I'll answer them.