This being a genre known for its focus on console controllers, how playable is this particular game with PC controls? I'm looking for proper playability, at the same level as console controllers, not hamstrung ported controls like in, say, Street Fighter 4.

And if this game doesn't meet the criteria, can anyone recommend any that do?

Don't have the game, but looks like you can remap the keys - http://steamcommunity.com/app/263300/discussions/0/540733523816084704/

That's good, thanks. But what bothers me more is whether the special moves require ridiculous directional key sequences that aren't really possible without an analog stick.

I don't pretend to know everything about fighting games, but this seems to be one of the most keyboard-friendly fighting games out of all the ones I have played on PC. You can re-map all the keys and most special moves do not require you to do the 2x (down , down right , right ) + D key that you would do on a controller (instead you can just press a "SP3" key to do distortion drive). There are a few moves that do have multiple keys such as down,down right, right+D but that seems to be the worst of it from what I have seen. So it seems quite playable with keyboard, at least I think so.