Well as far as I known, only astaroth's massive chest muscles are affected by jiggle physics, and that was only in soul calibur three.

There are however pretty fanservice-ish male characters there too, at least for women who like guys who are a bit muscly. Algol fights in like... a loincloth, and that's all.

-edit-
Apparently I was wrong, he wears a... cape (?) too!

algol-soul-calibur-v-picture_0.jpg