Can two people play on the same/one PS2 Online? Like on the madden and NBA live games?
No. There are more match modes to choose from, but it's one player only at the moment.

Does Christian have the >C< on his tights? Or are they still plain?
They're plain. However, most of the wrestlers have alternate attires that you can unlock. Perhaps Christian has another set of pants. *shrug*

Do they still play music during the matches?
Yes, but you can turn it off in the menu if you wish.

Alrighty. Any more questions? Fire away. However, my recommendation would be for you to buy the game. The modifications do take a little bit of getting used to, but the changes are all fantastic in my opinion, and I love the new irish-whip feature.

Buy it. Buy it now.