That's, like, tomorrow!
What is doa5? Well, it's a fighting game that's mostly about girls not wearing many clothes. I'm not posting any pictures because I don't want to get banned.
Beyond that it's the latest entry in the world's 4th most popular 3d fighting game franchise (behind Tekken, SoulCalibur, and Virtua Fighter). It's pretty different from all those games though (um, except for the part where this game has some Virtua Fighter characters in it.) It's also the best looking 3d fighting game series, in terms of technical proficiency.
The last DoA I played was 2, on the Dreamcast. But this one is supposed to be pretty good so I'll probably pick it up. Maybe you should think about it as well.
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Me, after Dead or Alive: DS and Ninja Gaiden 3, as well as the lackluster PS3 ports of the...good...Ninja Gaiden games, I'm not wholly convinced Team Ninja is actually capable of making games that don't kind of suck, much less very good like they used to. Also, apparently The Other M sucked, but that had more to do with the Metroid guy.
Still, I have DoA4, which is still the best tag team fighter pretty easily (I suppose DoA2:U might give it a run for its money). And apparently DoA5 is NOT missing tag team mode, which is good news. Hopefully it does well.