Usually those wrestling games have nice multi player game modes, although I don't know which to recommend as I don't play the mat all.
But I just got DOA 2: Hardcore a couple of days ago, and even if it's an old game, man, it's lots of fun, I really like it.
Tekken 4 will be coming out real soon (next week, I believe) so I suggest you go for it as well.
Those are my recommendations as for fighting games. I haven't played any action games so far on the PS 2 (only DMC but it's only one player)
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