Kowtow: I think that while there are no basic 'mixup options', the real mindgame comes from varying character matchups. Each character has very specific strengths and weaknesses that you have to learn to adapt to in order to get around them. You can't exactly bring down Berserker the same way you bring down, say, Shirou... or you can't fight Caster the same way you fight Rin. Every character, aside from having an insane combo, has different ways of closing in to pull it off.
rash: That's almost hard to believe when you consider that the GC/Wii Naruto fighters are basically 1-button Tekken.