Did you see the 'Warehouse' demo too? It's not perfect, but it does have very nice lighting and shadows and runs at very acceptable speeds on my PC. I think if one were to add some nice models with better animation and perhaps additional shaders it could very well look even better.
Start to move the camera in this demo. It is jerky. And look at the FPS. They are sometimes high sometimes about 30 FPS (without any shaders applied).
And look at the Ask-Conitec Forum. Almost all users were disappointed about this and the venice demo. Some of them even immadiatelly bought another engine after seeing those (I know 3 of them). Something went really wrong with both official demos.
