The full transcript of the review was removed by request of Official Nintendo Magazine, but we have been given permission to post some excerpts from the review. You'll have to buy the magazine to get the whole story (plus info about Red Steel 2 etc).

From the magazine:

On first glance, it seems that Punch Out!! doesn't have much in its locker. It's got an Exhibition mode, a Head-to-Head two player mode, and a Career mode where, like the previous games in the series, you fight your way through three circuits (Minor, Major and World) in order to become the champ in each one.

We were worried. Sure, anyone who hasn't played Punch out!! on the NES or its SNES sequel would indeed take a lot longer than a couple of hours to play through the game, and they'd probably get a lot more enjoyment learning how to defeat each opponent. But nobody's been looking forward to this game more than Punch Out!!'s long time fans, and as we finally disposed of our 13th foe, we couldn't help but feel let down by how easy it all was. We had this review all planned out in our head: "great for newcomers, but far, far too easy for Punch Out!! fans. 70%" And that's when things got interesting.

You see, as with all great boxing champions, once Little Mac wins the belt, he has to defend it. In this case, by fighting again against everyone he's already fought. "Fair enough," we thought, "at least we already know how to beat them all". Ah, how foolish of us. This string of title defences comes under the heading of "World B", and every opponent is significantly harder than they were before.

Punch Out!! does a fantastic job of appealing to everyone. The first set of 13 fights is essentially an introduction to newcomers who have never played a Punch Out!! game before, while the World B mode and Exhibition fights provide the real hardcore challenge for dedicated gamers.

And the final surprise will please everyone, but we're sworn to secrecy on that....

Pros:
+ Looks absolutely incredible
+ Boxers ooze character
+ Classic Punch Out!! gameplay
+ Easy for n00bs, hard for pros

Cons:
- Multiplayer mode is weak

Overall:
The best Punch Out!! game yet. Accessible for newcomers, but a real challenge for experts.

Total Score: 91% (Gold Award)

Credit goes to Official Nintendo Magazine (published by Future Publishing) and written by reviewer Chris Scullion - Issue 43 (June 2009).

I dont understand how this can be easy for newcomers and hard for veterans.

Probably because the first mode (World A) is almost exactly like the original (same moves and everything), therefore it is accessible enough for newcomers to get to grips with. Veterans will breeze through World A, but will stumble on World B and the Exhibition modes. That's where the real challenge lies.