It's crap.
EDIT: A bit more detailed impressions. I actually quit the demo when I got to the underground part of the Church, I dunno how far that is in the demo, I just know it's far enough for me to know I have no desire to waste my time with the game.
The biggest graphical issue I have with it is how small the characters and environments look. When the boat crashes into the castle at the beginning, it looks so fucking laughable. And it does look like a PS2 game with nicer textures.
In terms of gameplay, I was playing on zealot, which is the highest difficulty available in the demo, and found the game to be beyond easy. I was owning the Grim Reaper so hard, the biggest annoyance was that it had too much HP and I was getting bored kicking his ass. Then you get to the church level and you get access to more movies and stuff, and I thought it's so stupid how you have to repeatedly hit a button just for something to happen. You want to fill up your HP? You have to hit RB and then mash on the B button to break a green fountain to refill it. Same thing if you want to get souls from the white fountains. That's going to get old fast. I also think it's stupid how evading is mapped to the right stick instead of just having you do the obvious thing and hit a direction twice on the left stick or something like that.
When you're BORED by a demo that's supposed to hype you for a game, you know it's not for you.
Bleh.