I got the Saturn version, but haven't played it that much since the loading times are horrible. I think about 2 - 3 seconds per random battle, which there were a lot of. Don't own the NG-CD ver so I don't know how that compares.
It's a rad game, and honestly I'd rather play it on a PC with the original game disk or even the PSX/Saturn port. There's WAY too much loading for way too long on the NeoCD itself.
The game itself is pretty interesting, you choose to play as one of six Samurai Shodown characters, the one you choose changing how you go through the game and what people join your party (if you choose Genjuro as an example, you get no party and always fight/travel alone except for one or two storyline situations ). You then also get to choose to play through a scenario that basically covers SS1's storyline or a shorter one that covers SS2's storyline.
You can also choose to conduct the battles with a standard Japanese RPG menu or by manually inputting the special moves/attacks. Instead of having magic you use these special moves and can also forge different elemental alignments into your weapon.