I didn't play the original game, so all I knew about the new Splatterhouse was that it would be gory, and let me tell you, it certainly delivers. This game is certainly not for the squeamish. The game has a slight cel-shaded effect which gives it a cool look. The demo had me walking from room to room slicing enemies. As mentioned, the game is very bloody - as you're wasting enemies, the floor, walls, and even you are covered in blood from the massive carnage. The gore does give quite a sense of badass-ness as you play. An interesting gameplay mechanic is that you can power up your character, giving it extra power and regaining lost health. One of the power ups give you ultimate killing ability and the screen changes to a very cool looking half black and white / half color mode, where only your character, the enemies, and the blood is in color and everything else is black and white, kind of like MadWorld for the Wii.
Also, there was an awesome statue of the game's character, pictured below.