Very good. You can do weapon trails without any frame rate loss with realtime meshdeforming. In this case it will look like in SoulBlade. MAybe not as beautyful as a shader, but very, very, very useful for collusion detection via trace from vertex to vertex.
http://www.dreamstation.cc/images/image....Soul+Calibur+IIhttp://www.dreamstation.cc/images/image....system=GameCube