Let me weigh in having played the demo at E3 - the polygon counts from these screens are nearly identical to what I saw while playing the game. However, this "film-grain" look was very much absent from the playable demo, leading me to believe that they didn't just add a filter to the game, but that these screens are heavily modified post-capture. I wouldn't expect the game to look like that at all. Something you can't see from the screens that we did see in the demo was stiff character animation and completely static lighting (looks alright, but doesn't move or change).
Not to be pessimistic or anything, but after getting excited about the first Red Steel screens and then playing its ugly stepsister at E3, I'm not going to get hyped up for this game until I play the final product.