I played 4-5 matches, ended up winning one of them. The controls are pretty similar to the old WWF games on the N64 (this is a good thing), with a large contingent of reversals, grapples, reverse grapples, and some new environment and control grapples. The demo offers 3 very handy videos explaining all of the controls.
Graphics are pretty amazing IMO. Watching the intros for HHH and Kane was almost like watching the real show.
My only real problem with it was the amount of loading screens. It had one after after each intro, one right before the match, one right after the pinfall, and then one more right after your guy celebrating. Hopefully those will be cut down a bit by release.
Good demo, I'm pretty excited for this one now