The last DOA game I purchased was DOA2:Hardcore. I tried one of the later ones (3?) at a friend's place and wasn't impressed enough to buy it. I remember people talking about the jiggling, and how if you set your age to 99 it was supposed to become even more exaggerated, but that wasn't why I played the game.
I played the game because I enjoyed the fighting mechanics. It was one of those rare games where you could actually play it, as a trained martial artist, and destroy button mashers every single time. Gone were the days of being stomped by an opponent who picked a certain character and just beat the hell out of two buttons to victory, or playing a JKD guy who has to rely on stringing backflip kicks together most of the time...
Instead of fireballs, hurricane kicks, and teleport spears, you get a variety of punches, kicks, throws and grapples. The system was very combo friendly, without being as gimmicky/glitchy about it as your Killer Instincts of yore. You can, and thanks to the countering option, need, to vary your attacks.
Of course, another reason that game has such a fond place in my memory is that it was one of my first PS2 games, and I played it a lot with friends who were into fighting games.
I had a friend over a couple of weeks ago, and we played DOA2 for the first time in years and still had a blast with it.
The game has always been guilty of that anime trend of putting innocent childlike faces on top of "mature" body types. If they re-skinned the game (which they won't) to make everyone realistic, appear to be the age they are supposed to be, and normally proportioned - I would still play it, if the fighting mechanics were there.
Hearing that they are planning to further inflate what have always bordered on the ridiculous makes me think I'll be giving this new one a pass. After all, if that were all I wanted from it, I could just go sew a couple of volley balls to my wooden training dummy and be done with it.