I started playing through this again last night (playing as Kevin Nash on the Raw roster). Forgot what a good wrestling game it actually is.
This is the first wrestling game I remember that was more than just a chase for the championship. It actually followed storyline elements, and you could make allies or enemies backstage. You could also form allies into a faction, even. What was also cool is that Vince McMahon runs Smackdown, while Ric Flair runs Raw. You can work for either guy, and you get to participate in the Draft and pick what guys go to what roster. And of course there's the wrestling staples in the game like create-a-wrestler, King of the Ring, Hardcore Matches, Cage Matches, etc.
The roster is really good, too. It's right during that magical time when there were Attitude Era stars, WCW stars, and ECW stars all populating the WWE.
Go back and play this one, you won't regret it. That is if you can get past the dated PS2 graphics.