johzhoCorrect. Also no hold, but it plays very fast. It's basically a purist version of post-modern Tetris, somewhere between the NES and DX version on GBC. You have some time for ground movement but it isn't a ton. You can preload very few movement inputs.. no combos, no back to back tetris score buffs that I could see, no T spins and such.. but its fantastic. I ordered mine direct from HK and I'm using this to get a 2nd as a backup, its just that good imo.
OMFJEUPDATE: There's definitely T-spins, part stalling, and even piece climbing! (rotating from a lower level to a higher one depending on surface pattern and piece)
Definitely worth the money, it's so perfect for those moments where you feel like you're waiting for ages on something.