I also just found this quote, which I think is very interesting:
The footage shown from the UFC game featured ultra realistic physics and near photographic quality character rendering. THQ execs were quick to point out that the reel did not, however, represent actual game play but more or less represented the benchmark they hope to achieve.
Putting that disappointing fact aside for a moment, the footage was incredible and definitely looked like the aim was to capture the versatility of the various fighting styles that are prevalent in UFC. Now all that THQ needs to do is prove their programmers are up to the task of converting what is essentially a piece of computer animation into a living breathing game with challenging AI and genuine playability.
'UFC' to get Next Generation Video Game from THQ