I'm one the few persons in this universe who was lucky enough to own a Bodypad http://www.youtube.com/watch?v=TltqQDZQYBY which I played dozens of hours with Tekken 5 on PS2 (before all my Bodypads broke).
It was phenomenal and in some ways better than Fighter Uncaged and I'll explain why through a list of pluses and minuses for the 2 games.
* Fighter Uncaged
1) Many moves recognized.
1) Sloppy, there isn't much energy flowing.
2) You must stay with the feet aligned facing the Kinect, you can't minor what your avatar is doing, this lessens the sensation of embodiment.
3) Limited number of fighters and situations, only one avatar, no fantasy, no story, virtually no music.
4) Some lag.
5) The viewpoint is not right, in Tekken 5 you really see what you and your opponent are doing.
* Tekken 5 + Bodypad
1) Tekken 5 is a very fine game, the amount of energy that flows is really huge. When you deliver a punch or a kick you feel strong.
2) No lag.
3) The number of characters, the music, the fantasy and so on.
1) The Bodypad is cumbersome to put and it breaks eventually.
2) There are only 4 buttons (LP, RP, LK, RK) for you body (+ traditional gamepad in your 2 hands). It seems not much, but you can do a lot of stuff with that (like throwing right and left pushes simultaneously, or jumping for LK+RK, + combining with the bodypads in your hands), but that's clearly less dimensions of body freedom for control than Fighter Uncaged.
I'm still enjoying Fighter Uncaged, it's the only one of its kind anyway. I'm sure in the near future amazing fighting games will come out for Kinect, and frankly I'm completely psyched about its potential.
I'm glad that AMA had the guts to try to create a fighting game for Kinect within such a short notice, and hope they and others will learn from this first attempt.
Sorry what I meant to say was 3 words Motion Control + Configuration. If that were implemented as an option before hand that was directly tied to the games recognition of your movements the kinect's controls would be better. Its too bad they restricted it by not including that. I mean what fighting game does not have control configuration?