As a major fan of the game, I saw this movie and I understood why it flopped at the box office. My expectations for the movie was a bit higher, but I understand the fact that these kinds of fighting games are hard to put into a film.
For one thing, the fight scenes doesn't compare to many of the movies I watched. I saw Dragon Tiger Gate a few days ago and it was definitely 100 times better than this movie. Second of all, I have a problem with the character of Ryu Hayabusa in the film. My favorite fighter in the game is Ryu Hayabusa, but in the film, they got Kane Kosugi to play him, who is much shorter and skinner than what I thought of Ryu. Thirdly, while I don't mind Devon Aoki, her expression remained the same throughout the movie. All of the characters were more like wood and stone than flesh and bones.
While the movie had some serious flaws, I do appreciate the effort and attempt at an adaption. However, I think this would have worked much better if it remained CGI animated.
Also, I heard that they are planning to do a film on Soul Calibur, but I am not putting up any high hopes for a successful film.