just to piggyback on your post a little bit. The round time for the demo's I've seen was about 2:38 seconds of real time for 5min game time (accellerated clock). I'm not sure if there are any options to make the rounds real time, but the eb-and-flow of the fight I saw it looked pretty balanced. So in that setting the fights will be numerous and there will be time for training/micromanaging too.
I've never seen a number tacked on to a career mode for a fighting/boxing game before, it's a bit strange - and I'm sure the number will vary wildly for all of us. I think back at past games and if I had to guess most were probably under 10 hours for the career. The fight night series was, most of the K-1 games were half that or less for sure. The dreamcast UFC was probably 1-2 hours. So anyone concerned about that number I really wouldn't worry about it.
I was thinking the 7 year thing would tick way more people off - but again, I think it's a standard to keep people from having records of 105-11-2. I thought for a while how it might be interesting to have a fighter that doesn't fight often getting a similar number of fights in a longer time span - but the problem with that is many of the 80 fighters would be in their 50's (and possibly 60s) if you dragged out the career too long.