If you plan on buying this game to play with your online friends, consider yourself duly warned - it sucks a big bowl of fail pudding. Aggressively. Through a giant straw of embarrassment.
Out of 5 attempts, all five failed before we could get to Double Jeopardy. Surprisingly we could still communicate through the headset, but everything else would freeze. Soon after this we were playing SSFIV with few issues (occasional lag), so if you want to play Devil's Advocate and claim connection problems, good luck.
I'm pretty sure that, from a single or local multplayer standpoint, the game probably does what it was meant to do well... which is pretty simple - play Jeopardy. But it drops the ball online. Actually it doesn't even drop the ball - it dropkicks it as far out of bounds as it can, flips off both teams, and runs off the field screaming and crapping its pants.
^What this guy said.
If you want to win for that 10 mins before it freezes, you're going to want to be host. Mash "x" and nobody else will have a chance.
Oooh, by the way... If you're looking to play this with people offline, and have a keyboard for easier answering, only player 1 will be able to use it. :)