The recently-released WWF Royal Rumble does that, in spades. The models are the best I've seen yet. Don't get me wrong, the game is smooth and fun to play. But based on the number of modes, matches and wrestlers that fans have gotten used to lately, the game is sadly lacking. Unless there's a few hidden ones, but still, it's a real drop from the 40 and 50 man stables from other games.
Wrestlers come out with VERY short entrances, just a second or two and a flash of pyro.
There's a a bit more of their theme and posing if you win the match, but considering what they could do, I was disappointed. There's no tag-team choice to speak of, but taking a page from games like Street Fighter and Rival Schools, you can pick a second wrestler to call on for special power or team moves. You can play in other areas of the arena, but you don't actually go from place to place. There's weapons galore in these areas, and even hazards like cars you can be hit by, or in the case of the meat locker, sides of beef that slide past. There's the ability to have other wrestlers interfere in your matches, but like everything else in the game, it happens in its own weird way.