I still play it regularly with a bunch of my friends, who are diehard fans like me. I can't ever get enough of 3rd Strike, which is a known fact.
The problem with this game is that it gives every character an insanely limited moveset and expects you appreciate the HP+HK flashes and all that eye candy. In SF3, you could just create on-the-go combos that would blow the spectators' minds. Not everything you pulled off was necessarily prescribed. It was just that flexible. Correct me if I am wrong, but here your only possibilities are using the combos the game gave you (you will have 2 for your character if you are lucky) and devising one of the limited selection of improvised combos, which aren't even improvised but just placed there for your momentary elation of discovery.
Note: Stop me when you guys think I am too much of a bore to listen to. And I will leave this thread alone. I really don't want to keep whining and spoiling your fun. Otherwise I don't think I will ever stop regretting this purchase and going on nostalgia trips.