I played one match of the game at SummerSlam Axxess yesterday. I, of course, chose Edge and went against RedJed who played as Kofi Kingston. I wasn't familiar with the PlayStation controls, but we messed around for about 5 minutes.
The graphics seem slightly improved, and the most striking change was that there was no HUD. Stamina/energy was displayed in circles underneath our chosen wrestlers. Edge wore his red star t-shirt to the ring. Controls seemed similar to last year's game, though as I said, I'm not familiar with the PS3 versions of previous installments.
Overall, it was pretty fun. One last note- they were handing out cards advertising Stone Cold Steve Austin as a Gamestop exclusive bonus superstar.
EDIT: My friend found a video of me and Jed playing the game. Go to 0:45. I'm on the right in the black shirt.
SVR2010: Gameplay Footage (Off Screen)