Gave the demo a bash.
I have to say that its very enjoyable.
It doesn't exactly innovate or set any new standards, but rather tries to get the genre standards right, and for the most part it seems to succeed.
The high points would have to be the graphic design and a fluid battle system. The lows would be the bugs and very unstable frame rate.
The story doesn't seem like anything special so far but I cant say I paid much attention to it, especially since there is a time cap (after you leave the tutorial area) on the demo and there's only so much that can develop in 45 minutes.
Probably not a day one for me but I do plan on picking this up eventually, pretty good for a first effort by a new studio.