I would probably be more hyped for this if I ever actually played a persona game. Hell, the only SMT game I ever played was Digital Devil Saga part 1, and I never even finished it. I need to get back to that game. But first I think I need to give Persona 4 a shot.
Finish DDS, man. It's better than Persona, and you get a chance to fight one of the toughest optional bosses in any RPG from the last decade if you unlock Hitoshura.
The game definitely has a BlazeBlue feel to it. It's actually gotten me curious about the Persona series which I have not tried before, should I start at Persona 1 or are there titles I should just skip altogether?
If you're only interested in the characters in this game, Persona 3:FES (if you don't have a PSP) or Persona 3:Portable (if you do) is where I'd recommend starting. Persona 4 is basically P3 with better characters, worse story, better combat system, slightly more challenge (still pretty easy, just not dead easy), and no easy way to get really high levels for demons like Lucifer.
If you're interested in Persona in general, Persona 1 was pretty ass...though it has some hilarious translations, especially during demon negotiations (Mark dances sexily!). Persona 2 is a better place to start IMO (especially if you have a PSP, so that you can get the long-overdue english release of Innocent Sin). In this vein, though, what I'd really recommend is playing Shin Megami Tensei:Nocturne and Digital Devil Saga 1/2 instead...both are like ten times better than the best Persona (P4).
Of course, my opinions should be viewed in the light that I think Nocturne is the best RPG of all time, and that the press turn combat system is the best RPG combat system of all time.