I remember renting UMK3 back in the day and was hugely disappointed by everything the designers took out. How do you make a conversion of Ultimate Mortal Kombat that's less ultimate than Mortal Kombat 3? Midway found a way.
To be fair it was not their fault. Understand that ROM memory cost alot of money. The game was already using up a 32 megabit ROM with Mortal Kombat 3. Then they needed to add new stages and new characters. They just didn't have the room so they had to cut out what they could. If they had bumped up the amount of ROM used they could have avoided the cuts but it would also have made the game more expensive to produce and either less profitable or more expensive to the consumer and perhaps if more expensive it would sell less and again be less profitable. This is the same case with the SNES version.
Atleast it's here now though right?