this maybe new and old news to you but this is (straight from the PSW magizine)
if your holding a weapon you move slower and its a lot harder to hit your opponent now, but if you do hit them they will probably be down for the count like in real life.
if you have a manager at ringside, supposing your Triple H and choose to have Ric Flair outside, when you press the r3 button they will either throw in a weapon when the ref isnt looking or distract the ref deliberately, doing this too much will result in the ref sending them backstage..'Your outta here!'.
if you are a wrestler with a high submission rating, for example Chris Benoit or Kurt Angle, whilst being held in a submission hold yourself, with presicion timing you can turn it around by hitting the X Button in timing.
it is now possible to break up a submission like your able to break up a pin in all the previous games. In a tag team situation this will be incredibly handy because when your partner is put in a hold its not like game over.
the create a wrestler has much improved this year.
there is two types of the 'swingOmeter' the first one is chops the the chest, where two wrestlers exchange chops until one is weakened, the other is on the turnbuckle, where you can exchange punches until one is weak and then you can execute a turnbuckle move.
referees no longer stand around doing nothing, there constantly involved with the match, when a submision hold is underway, the ref keeps asking the if they want to quit, and he will also do the 'booker t 3 count' when they pass out and he counts to three with there hand, but if you press buttons quickly, they will do the power up and get out of it.
