Pit Fighter had the unfortunate timing to be released right before fighting game standards were defined by Street Fighter II. Pit Fighter was released in the arcade by Atari, who to this day has yet to make a good fighting game (read: Primal Rage).
The game was unique, if only it let you play three players, one on one on one ... however, since there were only three characters, it wasn't a real interesting fight. But as poorly as the game plays (and don't kid yourself, it really is just pushing buttons fast), the game does have some interesting features not used any more.
The game does feature two player action, heck, even on the Lynx. It has digitized characters well before it became chic. The crowds that surrounded it you as you fight push you back in when you get to close to the side. The weapons you can pick up that influenced so many games in the future.
But the game isn't that much fun. Even multiplayer, the game just isn't fun at all. The one player mode just has you going through each stage fighting similar enemies in similar environments. It's just a damn bore.
The graphic presentation on the Lynx is good, but doesn't make up that the game NEVER looked good. This game isn't recommended at all.