According to ESRB, this game contains: Animated Blood, Animated Violence
The thing most noteworthy to me about Soul Fighter is that it serves as a reminder of how far the industry has gone. Years ago, no one would have cared if a game was released without a two-player mode because that was the norm then. But nowadays, if an action game doesn't have a two-player mode, a red flag goes up and the game will be judged harshly.
The lack of a 2-player mode in Soul Fighter didn't annoy me as much as it did Dale. I was actually looking forward to playing an old-school, side-scrolling fighting game since there hasn't really been a good one since Super Double Dragon on the SNES.