They update the PS store every Thursday at 6:00PM eastern, no exceptions. In fact, this one came out on time in Canada, while Tekken 5 was a day later.
Agreed on the UI, but that's a small gripe. I'm glad there is no voice support myself
Though I don't like the fact that player names don't show up when playing a match. Infrastructure wise, it's exactly like UMK3 on the 360 (I have that too) so lag will happen if you have latency problems.
Emulation wise, it's perfect from the most part, but I experienced some music cuts like the MAT2 versions when the timer gets near zero on some stages, and halfway through in the arcade credits. Like UMK3, it seems that they remastered the audio.
Anyway, this IS MKII, so you'll have to take it or leave it. Yeah, it turns into a turtle fest but that's the game.