Played the Akai Katana Shin demo for an hour or so. The system took me a little while to understand, and I'm still not sure I grasp it fully, but it's pretty good. Nice bullet patterns, decent difficulty, fun scoring system. Seems like a good game. I need to watch those pro videos Cave put out a while back now that I've got a feel for the game. Should help me connect the dots a little easier.
The demo is only Shin mode though, so it's just an appetizer for the real deal (the port of the PCB, and the 'unlocked' version of the PCB).
edit: Tried some other demos while I waited for Side Vower to download.
Bullet Soul: Seems okay. Nice graphics, nice music, some nice bullet patterns but they all disappear within seconds so whatev. Seems like a decent casual shooter. I'll buy it some day.
Phantom Breaker: Seems incredibly shallow, but it's still kinda fun. It's no Melty though. Maybe I'll get it if I can play against Japanese people with decent latency (lol).
And now I guess I'll go back to playing Wet.