The Amalur demo has been out since Tuesday. If you download it on the PC, make sure to get the Steam version. If you get it from Origin, you'll have countless random login issues.
The demo is far too short to get a really good idea what the final product will look like (it has a 45 min countdown timer that pauses when talking to people or when looking through the inventory that starts after the tutorial). But for anyone who's played pretty much any of the big named RPGs or MMORPGs, this game won't fool you at all--it blatantly takes everything from everywhere else, most notably WoW, Fable, DA2 and Diablo. I can't say it wasn't fun though, which is what matters the most and I already know exactly how I will be building my character come launch (Finesse/Sorcery).
The combat is not anywhere near as good in practice as they hyped it up to be either. It's not bad, but the floaty animation and pauses for special attacks or charge up attacks make it feel very jerky in a start/stop kind of way that's nothing like DMC/GoW or Bayonetta which a bunch of insane people are comparing it to. It basically feels like Fable that tried to get out of it's childish combat and closer to DA2 combat with some of the stun and juggle mechanics of God of War. The enemy AI however is completely MIA (it doesn't have to be "smart", but when only 1-2 enemies out of 6-8 attack you while the rest watch...). The developers said that the demo was based on a three month old build, so who knows.