AMAZING!
This game was incredible. You may have had a couple bugs in your script or so, but overall, it was great. The animation was superb and very smooth. I like how you can change the attack by changing the direction of your movement. That was a common technique used in older fighting console fighting game like this one. I can't stress enough how awesome this game is. You should spend the time perfecting the actionscript, and making more playable characters.
By the way, you would help out TONS of flash artists on Newgrounds if you made some kind of tutorial for making games(a tutorial for a much simpler game of course). Anyway, I thought you did an excellent job, and I'm surprised at you low score of 3.5 You should have had around a 4.0 or more