The demo is kinda neat. It's a demo only for the battle system and for some reason it's incredibly washed out but once you figure everything out, the system is pretty cool.
You select your target with the d-pad, select the direction you're going to run in with the analog stick, press square to jump at any point and press x to attack when you're within range. You can attack multiple times in a turn depending on the length of your run and your distance to the target. If you run in the direction of one of your teammates, you seem to activate some sort of bonus as well, so there's some real strategy to your movement, in addition to basic placement.
There's not much to say about it, graphically. Other than the strange gamma issue (that I could perhaps fix in-game if I could read katakana), everything seems clear enough, though not exactly impressive. There's a moderate level of detail to the characters and enemies while the environments have a rather bland, geometric and industrial feel to them. Of course, this is just one area in a battle-only demo.
Even figuring things out as I went, I had enough fun with the battle system that I'll be paying attention to the reviews when this one comes out.