I could talk about Demon Souls all day and not get even remotely into what made that game soo good :).
The game has a lot to live up to after the sleeper hit first game. For me its the combat that stands out, its not the super best combat ever, but its the most realistic engaging I have seen for a game. Usually you just hit the X button or A button if your playing on 360 to win. This game makes you think about every swing and where you are in your environment.
The fact it is going more open world, having crazier monsters, more traps makes me super excited. This game and Skyrim, what a wonderful year to be a RPG fan :).
Even if it is better in every way I don't think it will surpass the greatness of the first game. It will more so confirm it. What made the first one so great is the fact nothing else like it existed and it was PS3 exclusive :).
I hope more then anything else there is meaningful DLC or expansions to this game to keep it going :).