So I started this game a few days ago and want to comment on a few things:
1) I love the seamless, interconnected world and think it works GREAT for this series. The sense of exploration and impending peril is way better than in Demon's, especially when you start going further and further down into the scary parts. It's also designed much better than the usual open world. The fact that it all just KEEPS GOING and you don't know how far it will go or where the next rest will be is pretty mind-blowing. I think it's a real stand-out feature of any game released this year.
2) Is this game is supposed to be harder than Demon's Souls? I've found it easier in some respects, or otherwise about the same. Sure, it feels like the normal monsters fight harder, but I've generally found the bosses (so far) to be easier, and the apparent lack of item encumbrance really makes loot a lot easier to manage. Also, equip damage seems to happen MUCH slower.