The last one was on the Wii wasn't it? Battle Arena Toshiden was one of the earlier PS1 3D fighters. Back then, those graphics were considered ahead of its time. Unfortunately, the series didn't know where it was going after BAT3.
It is, but it's not what the series is really all about. It may be meant to be an anime-based fighter, but the main elements of the franchise were not there. I hope it does come back with who new fashion like some of the other titles have. Right now, it's killing me inside it's not