Edit: here's a video that only shows the actual gameplay. See below for the original post.

It literally just looks like Demon's Souls with better graphics. 

Which is cool. I liked Demon's Souls. And I realize there are new things that aren't really shown in the demo, like the open world. But still... I was hoping for more improvements to the combat. I can't believe they've kept the shitty lock-on system. Action games these days should be able to detect what enemy you're trying to hit by checking the direction in which you're moving the analogue stick, and temporarily auto-target that enemy.

Awesome thanks for this, even though I never finished Demon's Souls I'm still pretty interested in this.

WANT 
 
Definitely Demon's Souls 2. Almost a DS 1.5, if you will.  Looks like a rare refinement of something that was already great. Demon's Souls is to Dark Souls as SMG was to SMG 2.  Somewhat disappointed by the lack of an MP gauge, but I think that I'll learn to love it just as much as "YOU DIED"
 
Day 1 get, I'm taking vacation from work the release date on through that weekend. GameStop better open the fuck on time. Haven't nerdgasmed like this since xmas '92, for real. 

Ok im will to try it this time around.

Yo that looks like Demon's Souls but now it's for the 360 too. 

that monster on the bridge was badass.

It's literally Demon's Souls. It's called Dark Souls so they could put it out on the 360 (with Sony owning the Demon's Souls name and all), but couldn't Sony sue for something like this?

Updated the OP with a video of just the screen. No audio though.

I hope some more footage will surface over the coming days, what with E3 and all.

Here's the (to my knowledge) first video with sound.

It shows a bonfire (respawn point), messages, the menu for Sixaxis gestures (I wonder how they'll handle those on the 360) and lots of (poor) fighting.

So it's Demon's Souls again except with half of a new name.

Fucking brilliant, day one buy.

Gah, apparently they showed it on GameSpot live earlier, but I missed it. I'm not sure if they showed any more than these two videos but dude... just watch these two videos! 
It looks like you'll be able to jump in this game, and also kick to break the enemy's guard, just like the knights in world 1-3 and 1-4 of Demon's Souls could.