Alright, I finally got around to renting this one. Is it any good? Well, honestly, yeah it is. I think it's one of the best playing Mortal Kombat games since part 2. I know that's not a huge bar to rise above though and that's a fair assessment. It's no Street Fighter 4. The animation seems more forced and the timing is less intuitive than it's competition, but I must say Midway has gotten closer than they ever have before to achieving a natural feeling flow from their gameplay. I was able to actually enjoy the game without gameplay issues being a distraction.
As for the story, it was really a fun story. It was like reading an annual crossover story where major implausible events happen that in the end will have no real lasting effect on continuity. And they come up with a decent explanation for the two realities combining for this little game.
Give the game a rent. Set it on easy and run through the story mode for both sides. It's not a bad way to spend the day.