Having played this demo yesterday at the Eurogamer Expo, well, frankly, it's a bit meh. Sure, it's very pretty, gory, and brutalising people with Kratos is just as satisfying as ever, but really it's the same damn game as the others, the level design feels the same, the combat hasn't really evolved much, and it's still got those silly QTEs to kill things.
Bayonetta was significantly more fun, the combat both more technical and more over the top (as one would expect from the creator of Devil May Cry), and the falling clock tower bit was much more kinetic and more frantic than the icarus vent section in GoW3's demo, which was, in truth, a little bland.
God of War 3 feels stale, it hasn't evolved in gameplay terms from the first game. Even ripping of Helios' head to use as a makeshift torch is just an even gorier rerun of what you did to Medusa in the first game.