Just played it and finished it, mainly for the Mass Effect 3 armor but also out of curiosity. Here's my analysis of it.
The game starts off as a traditional RPG does: A great evil rises, and you as the hero is the only unique being that can stop it, in this case being a "Fateless" one.
Character customization is fairly simple, not like Dragon Age or Skyrim. The graphics look ASTOUNDINGLY like World of Warcraft albeit a bit improved. It's bright and colorful but won't win much awards. The game play starts off fairly linear with the basic attacks and whatnot but later on gets exciting as you are able to switch weapons mid-combo and even perform finishers. Music is pretty good from what I heard and the world is indeed open, much like Oblivion but not as big as Skyrim. I like the idea of multi-classing, a silent protagonist, and lack of a morale meter. The game looks pretty but the gameplay may feel a bit lackluster. Considering this is a demo, a few improvements can be made.
My overall recommendation is that Amalur is NOT a first-day buy unless you really want it but otherwise, wait until the price is down or wait for professional reviews/opinions. I liked it but felt like it was trying to mix traditional and modern, something that Bioware painstakingly did with Dragon Age 2
EDIT: ALso, you will be reminded of Mass Effect with the conversation wheel and Fallout/Skyrim with the lockpicking. Just saying
