I don't vote for either of those choices. The demo was not enough of an insight to really be certain yet. I'm really ticked off that it's only 15 mins for the demo, or that’s what it appeared like for me. Hopefully my views won't be too biased by that but here we go anyway.
Graphically
At lower resolutions the game is very poor, grainy chunky blocks with too many annoying pointless objects getting in the way of my building. I can only use resolutions of up to 1024x768 on my Laptop and although the game runs very smoothly, it's not ideal. On my desktop on the other hand, with a resolution of 1280x1024, the game looks a lot sweeter and well rounded. The only downside is, my P4 1.6GHz cpu seems to struggle performance wise on the Great Britain and Ireland map.
Also there were a few graphical bugs, or perhaps unfinished bits. They were annoying but far few in number than the early screenshots.
In general, we knew the graphics were going to be below par. The demo has just confirmed that.
A.I.
This is where the demo really sucked for me. There is no way to evaluate the competitive AI in 15 minutes. The path finding appeared to be decent, but will this equate to a really competitive and enjoyable challenge? At least with this brief glimpse, there appeared to be an improvement, which is something.
Interface
Well, it's like RCT which is what we expected. Building is simple, takes no effort except to get a good view at times. The menu system is also simple and effective, not requiring any effort to figure out where things are what they do. I had created my first ride, I mean route in, in about 2 minutes and everything seemed to fit just nicely together. Non RCT users might take a bit longer, but I remember learning how to play that easily enough within an hour.
I don't think the interface will give anyone the slightest problem what so ever although short cut keys will probably be used in the end as they are rather useful.
Sound
Sound, what sound? I wasted fileplanets bandwidth

to download all that music, just to want to turn it off and then find out there are no sound effects? Some people may like the music and appreciate having it on, but I didn't. I hope we can import our own mp3's, or better yet, there are in fact sound effects when the game is released.
Oops, just went back and played the game again. There are sound effects and they are pretty basic but sufficient. I accidentaly turned all sound off when getting rid of the music.
Playability and feel
Well there had to be something that was good, and this is it. For the brief chance I've had to enjoy this demo, I really enjoyed playing it. It's got that instant gratification of setting up an effective route before someone else, seeing the money roll in literally and then moving onto the next part of the chain.
I really think it's going to go the way TTD did, easily letting you enjoy the game for hours at a time while giving you the feedback game play wise that is as good and in some cases better than its predecessor.
Good examples of this are, no more maintenance. That was a real headache before and thankfully doesn’t appear to be in Locomotion. If you want a train to stop to change something about it, it actually slows down nicely. I even started to see a city begin to change its roads as I moved people around, exactly like TTD, but better, somehow.
I just got a really nice feel from Locomotion, just about everything seemed to be in place to give me what I wanted. It made me smile.
Conclusion
I'm not happy about the Demo, it was a let down. But the prospects for the game are good. A lot of effort seems to have gone into it, little details and things that happened just made me think a lot of care had gone into the game. It had all the charm I was hoping for to, it felt like a Chris Sawyer game and that's always a good thing.
I really hope the late and rather poor release of a demo doesn’t put too many people off. For me at least, I still can't wait to get the final product on release day.