Anyone play this? I just got it in the mail today... looking forward to some excruciatingly difficult fantasy combat on the PS3. Any last minute advice before I go suffer multiple and frequent deaths?

I bought a PS3 for this game. I couldn't have been more disappointed. I found the RPG elements to be insanely weak, to the point that they're non-existent and after playing through the rich narrative of Dragon Age I found this game impossible to get into.
It's hard, sure, but it's real downfall is that it isn't rewarding in the slightest. I felt like the world was pretty dead and static and overall I felt like I was just completing 'levels' rather than exploring a world.
Hopefully you love it because you've already rented/bought but I was insanely disappointed with this game and haven't been able to go back with it. If you like active combat ala the prince of persia games I'd suggest selecting a class that doesn't start out with heavy armor, otherwise you'll move slow and combat will feel clunky. Best of luck and hopefully you enjoy this title more than I did

I couldn't disagree more--I'd call Demon's Souls the best thing on the PS3, easily.
It's not much of an RPG beyond the stat building and dark fantasy trappings, but that's not what it's going for. It's more an action game than anything. Combat is slow-paced and cautious, but it feels great; every hit, every dodge matters, and because just a couple of screw-ups can get you killed, it can get incredibly tense, especially against the bosses.
The levels are dead, sure, but that's the point--you're not exploring a lush, vibrant world but hacking your way through long-abandoned ruins. It's a bit of a buzzkill if you're looking for something more open and Bioware-esque. On its own terms, though, it's some great, thoughtful, atmospheric level design.
It's probably one of the most rewarding games I've ever played; it hammers you for the slightest mistake, but once you get it figured out and everything clicks, you feel like an absolute badass. Take the first level. During that opening stretch of the game, you can't level up--you have to get through on your starting stats. Which means, until you get everything figured out, you will die. A lot.
But on a second trip through, with a completely new character, you know all the ins and outs of combat, and you won't even die once. It doesn't even matter that you can't level up yet--you've leveled up outside the game, as it were. It doesn't get any more satisfying than that.
As for survival advice--the main thing to learn is that you can't charge in swinging. That'll drain your stamina in no time and leave you wide open. Wait for a good opening, get in a couple of good swings, and save enough stamina to dodge out of the way.
Also, halberds are a good, safe starting weapon.

Interesting title, indeed. Now, if only they converted it for the PC....

Only got through tutorial and a tiny bit of the first level (damn you final paper!), but so far its pretty sweet. Combat definitely makes you adjust your strategies and dying seems to be fairly easy.