DAMN this game rocks!
It's basically Silent Hill meets Doom 3. I love the bullet time even though it's getting overused, it doesn't matter. as long as they make it interesting (the way they graphics are and how you shoot in it) it's fine, I loved it. ESPECIALLY the grenades going off. I didn't mind dying, so I could see the awesomeness over and over. and towards the end of the demo WOW that scared me shitless. I cried out in utter passyness a couple of times near the end.
I highly recommend playing this demo. The graphics are amazing (especially in bullet time) and the creepiness factor is at a 10.