Reading the concept a bit more, this is a lot like the type of game I was hoping for a few years ago, when What Dreams May Come hit the theaters. I have always thought the concept articulated in that movie would make one hellish, provocative concept with serious visual potential.
Never saw that movie, so I can't comment, but as far as gaming visuals go...it's top notch. Makes me hope for a PC port w/ Anti-aliasing, so it'd look even better.
In playing the demo, I've found that the gameplay mechanics are a cross between
Prince of Persia: Sands of Time, with acrobatic, puzzle-solving maneuvers...and a mixture of the better Final Fantasy battles, but in real-time. You have nothing more than a bow n' arrow, and a sword...through the whole game.
The fighting and climbing feels physically exhaustive...you really have to move the character around a lot...since climbing the colossus involves jumping from one part to another while the entire structure is in motion and pissed off. The best part is trying to reflect the light into it's eyes, to reveal the first in a series of weaknesses. There's nothing like standing in the path of one of these giants trying to get the angle just right. It's nerve-racking. In the end, bringing the giant down really feels rewarding...an element missing from a lot of today's games.