Luvian, by the game's mechanics, yeah, that's just one sword thrusting demigod. [img]tongue.gif[/img]
But I believe that most DMs would make that gladiator go through all kinds of crap. Make him endure magic (illusions and whatnot), perhaps starvation, make him have a wide array of enemies. Make him have tough decisions in terms of both roleplay and powerplay. Perhaps give him some love interest? Basically, there's lots of stuff you could do to make him feel more worthy of his prowess.
Of course, having a lover and starving and such won't really get you closer to being a demigod but if they make the character surpass new challenges, they do in many RP-games. And personally I think that's kewl.
Ah, I'd love to play some D&D.