The graphics, cinematics, and gameplay are all excellent. But for total enjoyment, play DoA or the original Tekken.
Graphics: Probably the best you'll get on the PSX, Tekken's graphics are smooth, nice, and just excellent, the movements of the characters are excellent.
Cinematics: Wow! The cinematics are excellent, the character's movements are even smoother in the movies.
Gameplay: Fabulous, the controls are simple and easy.
Overall Enjoyment: Less than the other Tekken games, the fighting isn't as fast moving as the original Tekken or Tekken 2.
The Bottom Line
If you're looking for technical perfection, Tekken 3 is the game for you. But if you want a fast paced game, play the predecessors, or the Dead or Alive series.