Alright, just had the time to try the demo, and here's my breakdown of it:
1) Great graphics. Love the setting so far, but the colors seemed a little washed out for me. Might just be my TV settings.
2) Sheva is a decent shot, and seems to take care of herself well enough without too much babysitting. Pretty good from the little I've played.
3) The controls are truly horrible. The PS3 demo is set to Type D, and it felt very uncomfortable and strange; using the left analogue stick to run and turn (no strafing while running as far as I could tell), and being a tank while shooting isn't the best solution. RE4 was released ages ago, time to implement a new control scheme, post-Dead space.
4) Jesus christ, would it be too hard to add new animations, or better yet, enable ragdolls? The canned animations are horrible now.
5) The framerate (at least in the PS3 version) was very bad pretty much constantly, but the weird thing is it was more of a strange stuttering at all times (didn't notice any humongous drops, probably didn't do anything taxing while trying to stay alive :lol ). The strange thing is, from the PS3 videos I've seen so far, the framerate didn't seem like that there. :/ This might sound like wishful thinking, but could it be because the demo runs from the harddrive? If it's an older build as some say, and it was meant for disc distribution only, I wonder if loading it from the HDD somehow screws something up?
I already had a preorder of the game (of the Limited Edition no less, found it cheaper than usual), but I'm somewhat doubting it right now, mostly because of the horrible framerate (I hate knowing there's a better version out there, or coming in the form of the PC version). Hopefully it's ironed out until the release.