Oh man Peter Molyneux is just on another level of [censored]tery. I think they both get abit too exited about the game they're making and maby share more than they should but oh man.
But no you're right when it comes to the demo, memory is a funny thing and it's easier to remember my own scepticism abou the game in general than what actually was presented, though maby it wasn't part of that presentation in particular but i remember some features beeing abit overplayed and some that just didn't make it into the game, like the ability to affect the economy by sabotaging lumbermills.
I guess i'm still feeling the burn of the Oblivion presentation haha, man that let me down. It made me very sceptical about Skyrim and in the end that worked out for me since i liked it alot more than i thought i would and this time around there's very little to be sceptical about. The settlement building thing is probably pretty bare bones and the jetpack is probably ony for a mission or two but that's it i guess.