Not even a combat demo, watch it turn out to be the elder scrolls melee.
There is one quick video where they show it's 4 directional attack/block combat, just like in M&B.
I can't tell how it'll play out, nobody can, it's a pre-alpha, right?
And finally, that health-regen perk is weird to me. Isn't this a medieval fighting game? I thought we won't have magic, or special powers like that. Leave it for the Elder Scrolls and other cliché'd RPG-s for crying out loud.