(Also, my favorite is a three way tie between Filia, Squigly, and Ms. Fortune)

The game's already pushing that T rating pretty darn hard as is. From Valentine and Cerebella going all Mai Shiranui on us with jiggly jubblies, Ms. Fortune's underboob, Filia's short skirt (and Filia's 16, making her legal in only 30+ US states, plus all of Canada), Cerebella gives you a good look at her panties in one of her specials, and non-sex related (unless you're into guro) Ms. Fortune spouts blood with some of her moves, and exposes muscle tissue when stretching and performing her grab attack.