Well, I happened to watch it and must admit it's a real awesome job from an indie film.
Even though the main actors are a bit scrawny, they sure are into character and know how to fight accordingly. The choreography looked nice, flowing and intense... as close as professional as they could be.
The photography, camera management and angle takes were also quite good, it gave the battle the intensity it needed to have. The FB effects and the flaming DP didn't look bad, I don't think they went too cheesy and I think they reached the level any indie film can go.
Music composition was nice, great soundtrack and good takes to the classic themes of Ken and Ryu... with some SFIV'ish feeling on it.
It's a shame the film was too short, but nevertheless was a great effort and a nice display from an indie perspective. Hope they can go on with these series.