Wow. If this is true, I will earnestly give Ni-Oh another look with the new demo.
For sure! Lots has changed!
You only pant when out of stamina IF you block an attack that would deplete your stamina.
Low stance ki pulse (dashing to replenish stamina is gone)
Enemies don't all gang up on you if there are a lot.
The dual katanas are badass
Lots of new skills have been added
Ki pulse input has been changed (all you have to do is hold block and press the heavy attack button now) *drains enemy stamina
The lock on system is a lot better now as well. You also have the ability to auto lock onto the next opponent if the one currently locked has died. (I dont remember seeing this option in the alpha)
That is what I can remember off the top of my head.
Oh yea, they gave the main Character English battle cries while the enemies all still have the Japanese voices.