In the time between the public demo and this current PSN build, the graphics have changed a bit. (I think. Memories can be faulty or other factors could be there) The anti-aliasing is a lot smoother! On Cloud's hair, there were a bunch of rendering artifacts that would flicker in the PAX demo that aren't in this build of the game - this detail is one that I'm certain on. The sub-surface scattering also is a lot more apparent, and makes the characters' skin look really good. But I feel like that could be a monitor thing. I also swore that Cloud's model was slightly outdated in the PAX demo, but I don't think that's likely...
But anyway, the new demo is SICK! The performances from Cloud and Barret in particular were really good, and I suddenly understand why the Clessie thread has been getting a lot of replies lately... Cloud's angst and stoicism with an under-side of empathy and fun was well executed. Modern interpretations of Cloud make him a bit more angsty than he really was in the original, but there's still room for all of those traits in his personality regardless.
My favorite line in all of the demo was probably Barret's delivery of "THEN DO THE DAMN JOB!" Very witty.
Either way, Square successfully elongated ~10 minutes of gameplay in the original to around 45 minutes or so, which is impressive.
I've already written up my thoughts on the battle system in other threads, so I'll spare those details (though there are a few more mechanics in this demo that weren't in the older one)
But...
Classic mode really is mislabeled, aha. It plays more like Xenoblade Chronicles than classic FFVII. In retrospect, it does seem a little far-fetched that they would recreate the same classic battle system, but with a label like "classic" it sets certain expectations. Maybe they should've called it "Auto mode" or something.