Naruto: Ultimate Ninja 2 becomes more than just an anime-inspired fighter because it does a really good job portraying the events of the series in a different manner that shows there really is a story.
Ultimate Road is the game's story mode. It is here where you will see the events of the series from the Chunin Exam Finals and the destruction of the Hidden Leaf village, to the search for the Fifth Hokage and the coming of the Akatsuki. Between events, you can run between various sites of The Hidden Leaf and Tanzaku Town and talk to various characters to not only initiate fights, but also mini-games that help you increase your characters' abilities. These events include the Chakra Tree Climb, push up competitions, handstand races and various other similarly styled events.
It's also in this mode that you unlock more characters to be used in the Versus Mode as well as unlock the ability to customize your characters so that you can do crazy things like teach Naruto the Leaf Hurricane move.
Iruka's Training Mode is used to give you some practice on characters that you unlock, as well as helping you learn the more basic fighting moves.
The last two Menu options, Naruto's House and Tanzaku Market, go hand-in-hand. You use Ryo (money) that you earn in Ultimate Road to purchase various collectibles like figures, videos, voice clips and Ninja Info Cards from Tanzaku Market. All of these unlockable objects can be viewed or listened to at Naruto's House.