When you say Multiplayer, do you mean Online, or Offline Co-op? I assume you mean online, so in that case I have to say Smackdown vs Raw 2011. I haven't tried online more than once on the previous versions of SVR, but when I did I've seen that same problems. The connections are slow, people are being unfair and obnoxious, and there are many glitches.
Normal one on one matches aren't as bad. I tried that first, and the connection didn't give me a problem, is was up to speed and is was like playing offline. Unfortunately I couldn't have a good match, because the guy whipped me into the turnbuckle, and then proceeded to whip the ref into the turnbuckle, over and over..and over...and over again. Thankfully for me, DQ's were on and the ref ended the match.
The next thing I tried was a battle royal. The connection here was slow, and I found it a little bit frustrating to play, with a constant lag. I tried to just stay in the corner, but when everyone but me and the other girl was eliminated, she eventually got me. Oh yeah..that's right. It's a divas match. For some reason the only matches I can ever find are the ones with divas. Do people not realize these are animations? If you are attracted to a pixelated character, you need help.
The final nail in the coffin was the Royal Rumble. I decided to try and go for the trophy, you know, win the Royal Rumble online. I don't know if it was someones connection, I don't know if everyone had this problem, but there was a three second delay on my screen. If did a grapple, my guy would grapple three seconds later. If I moved to the right, he would move three seconds later. How the hell am I suppose to win a Royal Rumble when there is a delay on all my moves. The entire process of elimination is supposed to be pushing the buttons at the right time. If there's a delay, how am I supposed to go about doing that?
The one thing that isn't bad about online mode, is Community Creations. This was one good thing THQ decided to implement into the SVR series. I always go here when I want to find a character that isn't in the game. Such as Daniel Bryan or Jeff Hardy. Not only that, but I also use it to find a variety of logos, moves, and even some entertainment with Story Designer. This aspect is extremely useful, and I have a feeling it isn't going anywhere anytime soon.
Don't get me wrong, as much as the online version of Smackdown vs Raw 2011 sucks, offline multiplayer is exhilarating and intense. I am always having good matches on SVR with my cousin. I once had a last man standing, Hell in a Cell, best 2 out of 3 falls match with my cousin. The match lasted over 4 hours. Eventually we were forced to call it a draw and both decided to stay down for the 10 count. Little did he know Kane hit the ground last and was declared the winner.
Smackdown vs Raw is a great game in itself, without Multiplayer. With all the game modes, and creation aspects, it will still force me to go out to the store each November, and buy the next version of Smackdown vs Raw. But maybe next year they'll be able to prove themselves in Online mode, and becoming one of the best fighting games out there on the shelves.