I've played both WMMA and WMMA 2. WMMA 2 is so much better, it's less complicated and more organized compared to the first game. I'm not sure what you mean, the fighter renders look fine to me. The gameplay is very simple, its just commentary play by play.
One thing that's a let down though is that they don't use the awesome tactics feature for the fictional world that comes with the game. Other than that, the game is well worth the price tag. There's a demo at greydogsoftware.com BTW. I highly suggest trying it out. All the features are in it, but only a month of play. I'm 3.5 years into my GAMMA game.