You can get the new version of Arena with a lot of new stuff, including some demo fights on the title screen.
I didn't work too much on the skills balance, but rather on the gameplay. There is now more feedback, especially when you get hit. I reduced the default speed of the game as the last version was a bit too frenzied.
I also introduced the balrog in the arena. Beware, this one is pretty nasty...
http://jice.nospam.googlepages.com/arena