The robust creation modes have been streamlined even more. The game is simply packed with more, better stuff. And the game looks great as an Xbox 360 game - though it wasn't like its predecessor was an ugly game by any means (at least, not by PS2 standards).
That makes it even more of a shame that certain problems recur every year. We can forgive the fact that certain things aren't up to date (it's impossible to pin down a definitive roster, angle, and/or gimmick since they change constantly) and some of the clipping issues, but we wish other elements were improved. Collision detection still needs work, and the commentary is as repetitive as ever.
Above: The collision detection isn't perfect, but some contacts will make you wince