As an avid Dragonball Z fan, and a employee at Gamestop, i can personally fill you in on this particular game.
1. We all know nothing will beat DBZ BT3 for the PS2, what does come close to it is Raging Blast 2 on the 360 and PS3
2. Comparing it to Raging Blast 2, i would suggest RB2. In ultimate TenkaichiThe story mode only lasts up until the buu saga, but thats beside the point. What i didnt like was i felt it regressed back to the original budokai series. At first it starts off in a 3D fighting aspect, but when you rush to your opponent, or using your ki energy to blast your opponent, you disappear behind your opponent and can easily strike them. The punching system is just the X button, you then the screen pauses and you can press either x or y and your opponent has to guess which button you press in order to counter it. Guess right and he can counter your attack. Guess wrong and he gets sent flying. The countering system is also a hassle in this game. Youre only allowed to counter after taking a lot of damage.
3. Dont get me started on the different blasts and ultimate finishers. you have a meter that you have to fill in order to use (for example the kamehameha), which isnt your ki meter.
I will suggest it has a create a character mode based of the new DBZ series going on in japan as well as a mode especially for your create a character.
This is just my opinion, everyone is entitled to one, and i hope you like it.