The season mode is definitely better than the sequel - it's short and to the point, no repetitive stories and no shitty load screens to clog up your playtime. I could finish 5-6 character playthroughs in this game for the time it takes to finish Know Your Role's season with one character.
I love the fast-paced action, the only criticism I could have is that the wrestlers get up a bit too fast for my liking. Of course down the line Here Comes the Pain basically perfects this style of wrestling games.