Ugh. The demo is somewhat of a let down. I just tried the demo and I seriously hope the retail version has dedicated servers. I was able to get in game with a group of random people via match-making ONCE and when I spawned as a predator I couldn't walk, only jump. A few seconds later the host dropped out. Yay for the peer-to-peer model.
There is no dedicated browser to find games, no indication of latency, etc. It looks like this might be peer-to-peer. Graphics looked decent.
I *really* hope that there are a LOT more multiplayer options in the retail version. I'm still going to buy the game for the single player experience, but come on.