Power Stone 2 is 9 years old though and only available for a discontinued system or for the PSP which is not very amenable to group play.

I didn't realize Armored Core was like that. Doesn't that have more of an emphasis on long range weapons though? I was thinking more along the lines of something where it is beneficial to get up close to the opponent and what not.

Correct me if I am wrong. I obviously don't know much about armored core.

The Dreamcast may be discontinued :(. But it's still fun to play! I recommend buying one used :)

Blades are among the most damaging weapons in the game and they require you to get in close.  Many other weapons like bazookas and shotguns require you to be in close range to do the most damage with them.

What do you think the best recent Armored Core game is?

I played AC4 recently and am playing AC:FA right now.

Armored Core: For Answer is the newest AC console game and the better of the two.  Basically it takes everything AC4 did and does it better.