I suspect the low rating on this game is due to the fact it is extremely difficult to play thru on weapon & armor stats alone. Unlike other RPGs this one requires you to learn your enemies patterns, skills, and placements and the best ways to counter them. Once you get that aspect down it is absolutely fantastic.
Ive been playing this game for a month now and am about to purchase it. I also upgraded my XBox Live membership from Silver to Gold because I enjoy the online aspect very much as well. I beat it from start to finish in about 2-3 weeks of playing here and there and to my surprise New Game+ with enemies 3x as hard with 3x as much experience (souls). Awesome!
I will have to check out Demons Souls, its predecessor.. as this game has definitely got me hooked.
I gave it a 9 out of 10 due to the complications/difficulties with co-op/pvp and lack of communication abilities between you & your fellow undead, and that's after beating it 3 times so far. =)
I enjoyed what part of the game I played, which was the beginning, up to the point where you can level up.
My first impressions were "This is easier than I thought!" Then was killed by a metal ball rolling down some stairs, ran into a very large, fat demon, and killed by skeletons that wouldn't stop hitting me.
My impatience got the best of me, and I stopped playing, but this game is well worth the time if you have the patience.