I'm not sure what level the demo had in it but I've always been under the impression that demos were for finding out how the gameplay was, not to get you hooked on the story. I will say, though, I'm at the end of the second level right now and the story hasn't really pulled me in, but the gameplay is keeping me more than interested.
I was never a fan of the button commands when dealing with bigger enemies but they toned that down it seems. That was really my only beef with the first game. I hate not being able to bring the bosses down in my own way.