I had a chance to check out the demo last night. I have to say that the degree to which they have butchered the integrity and intent of the original work, is just...astonishing to say the least.
That being said...
This is looking to be a great game. The visuals are (for the most part) great and often imaginative. The combat is solid and responsive. It plays incredibly smooth. Also, I had more fun with that demo, than the entirety of my experience with the first two God of War games. Normal difficulty seems a little on the easy side, so I suggest you bump it up if you're accustomed the GoW's 'Normal' setting.
I will say, though, I am not a fan of the game's 2d-animated "story sequences" that take place between chapters. The art and content is obnoxious and looks incredibly poor/amateurish compared to the full-cg sequences (this does not help when these scenes are run side-by-side) and in-game graphics. It reminds me of a rough version of the original HBO Spawn animation.