I downloaded the MH4U demo and tried it, the biggest problem I had was the camera, everything else was okay.  I really want to use the shoulder buttons to move the camera, but I can't and I couldn't find anyway to lock onto the monsters.

The newest MonHun doesn't allow for camera lock on with monsters, but game is designed to be cumbersome while fighting.

But it seems like you have way more camera control if you have the circle pad pro or the new 3DS.  Doesn't feel like a design choice, more like a poor choice of button layout.

I derped and a misspelling changed the entire point of my point. You can have the camera switch the closest monster so that's helpful when they're jumping around a lot. Doesn't actually change your character's targeting though.

You can?  When ever I pressed L to change the camera it just goes to the direction my character is facing, it doesn't look at the closest monster.

I was referring to the newest Monster Hunter that never released in the US. -> https://www.youtube.com/watch?v=POXFpfr3S_E

I was wondering, say I have dual blades and I upgrade them into freezing daggers, but they won't be very effective against a monster I need to fight.  Is it possibe to go backwards in the upgrade tree?  And if I do go backwards do I get the supplies back that I used to make those frozen daggers?  

Nah, you cant downgrade weapons. You either have to make a new set or use a different weapon im afraid.

If you are realy set on using Dual Blades for a lot of the game I suggest making a non element weapon, or a debuffing element like poison or paralysing one.

No matter what you have your heart set on you will have to use different weapons later on in order to fight the ever stronger monsters.

I usually tend to make the paralysing long sword, not as strong as element specific weapons but being able to paralyse the monsters to let my team lay the smack down is always useful.