15 years have passed since Heihachi Mishima killed Kazuya Mishima and took back control of the Mishima Zaibatsu at "The King of Iron Fist Tournament 2" (aka Tekken 2 title). A mysterious being called Ogre has been attacking various fighters from around the world. In order to lure Ogre into the open and capture him Heihachi announces "The King of Iron Fist Tournament 3". Players choose from one of 18 fighters and attempt to win the tournament and defeat Ogre. After defeating seven other fighters you move on to face Heihachi at the 8th stage, then Ogre himself on the final stage. All of the characters have a reason for entering. Some, like Hwoarang and Jin, want revenge against Ogre. Others, like Forest Law and Paul enter for glory.
Tekken 3 maintains the same core fighting system and concept as its predecessors, but it added emphasis on the third axis, allowing all characters to sidestep in or out of the background (by lightly pressing the arcade stick or tapping the controller button in the PSX version) towards the corresponding direction. Fighters cannot jump to as extreme heights as in previous games, and put more use to sidestep dodges, as jumping could no longer dodge all of the ground moves. The fighting use standard moves such as throws and special kicks to deplete their opponent's life bar, but players can use techniques such as juggle combos too.
The graphics and animations are all superb, and the movie sequences are stunning to watch. The animation for the combatants was created using motion capture. As expected, due to the PlayStation's hardware limitations (less video RAM and lower clock speed), the visual quality was reduced: the backgrounds were re-made into 2D panoramic images (in contrast to the original -arcades- version which is in full 3D), the character poly-count was reduced, and the game runs at lower overall resolution.
The sound is great, and similar to the arcades, offering plenty of techno-style music and high quality sampled SFX including speech.
Surely, Tekken 3 is an amazing conversion though, given the difference between the arcade and PlayStation hardware at the time.