Ok, ive managed to play 2 matches so far. the action feels fluid as far as i can tell. unfortunately there were only 2 people in the first game and 3 in the next. the shooting feels good as does the movement.
However, big problem i immediately found, which is a problem with a lot of online games is host ragequit.
Basically I was playing against the only other person online in the first match and then the same person in the second match. Both times he was host. In the first match he lost, then in the second match he ragequit, as he was unable to get a kill. I lost all kills and progress in that second match. This will get old, very quickly if there is rampant ragequitting (which, lets be honest is 100% guaranteed to happen, just look at SFIV Volt).
Really like the game in the short amount of time i have played it, but this could be a stumbling block in the future.