OK, couldn't wait that long. I just finished the first section against Poseidon and all I can say is the demo doesn't do the game justice AT ALL. This scale of things is massive, to the point that sometimes you almost can't even see Kratos. You are fully powered up from the start like the second game, so you have some abilities already, though it is still pretty much a training section to familiarize you. The dynamic camera is well implemented and the animation is absolutely stunning. The demo's quality concerned me, but there is no doubt that they've delivered on this one and it was worth the wait. That is just the first section....
I'm going to add on to John's thoughts, and repeat a few!! I've gotta speak about the scale again... it is INSANELY large. The dynamic camera is ridiculous... there's actually a part where you are controlling Kratos, but you are watching the action through the guy who you're kicking the crap out of... I've never seen something like that in a game before
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I've played a little past where John got to, so I can say that once you get past the "training" section at the start, you lose all of the power-ups and have to start from scratch. After the Poseidon section they send you down to Hades... I've played a couple sections of that so far, and I'm quite enjoying the gameplay and the puzzles.
My only gripe with the game is actually around the jumping controls. There are parts of Hades where you have to jump from platform to platform, but they require double jumps and then gliding with your wings. However, the timing required for these jumps is a bit too precise (these are not supposed to be challenging), and I ended up dying a couple times where I wasn't paying close enough attention. This isn't a major deal, especially since there are tons of checkpoints, but it annoys me to have to pay close attention to an action that should be relatively simple.
To end on a positive- the AQ is unreal. Strong base, good usage of surrounds, and they don't wash out the background noise just so you can hear the dialogue (e.g. you can hear the water rushing in the background when Poseidon is talking to you.).