Visuals are a lot better than you'd expect our of a demo. It's obvious that great care was taken all around. Love the foliage. Love the portraits. Gameplay so far looks like it'll be pretty solid. Story feels like it will develop nicely.
I like that the 'kraken' seemed to know Isabella would jump and was there waiting for her and the characters at the end have a lot of potential to be interesting.
Now I have some nitpicking..
There's a couple typos here and there but most notable is that there's an inconsistency with the Ether Ambers also being spelled Embers. Mainly Alrec calls them Embers while Kash calls them Ambers.
I felt the dialogue with the first 4 characters could use tweaking. Especially the first one you meet. Dialogue felt a little too straight forward. More structured than organic (if that makes sense, ie Fred reuses some words and phrasing several times). The Timelord reveal in particular I thought should be saved for much later in the story. Perhaps reserved for Lord British or even a Xorinite Wisp (that'd be fun). Instead, I'd give the Timelord an alternate persona.. ie Corven the Seer, early on. It's very cliché but I'd use the classic foretelling of a 'hero from another world' via the Seer to the people rather than 'The Timelord sent you'. More mystery that way and also plays more to Ultima style openings I think. I do like the notion that you're the "Timelord's [chosen] Avatar".
More can be done to draw out the NPC's personalities, especially Fred who I think also knows far too much. It's enough that Fred directs you to speak with the mayor and will lend you his gear if you're willing to help. I see him as the concerned retired veteran who is just "too old for this *bleep*" (ok maybe not ornery but I think you get the idea).
Shoulder armor - is either pauldrons, or spaulders.
The moongate should probably be red. Red is interplanetary, blue is local. Also, may consider 8 stones around the gate rather than 6. I'm of the opinion that Fred shouldn't be aware of the gate.
I feel like the Timelord could almost be worshipped by the people, where was in Ultima most wouldn't even be aware of his existence. I find it odd that both Fred and the mayor are keenly aware of him as if he is common knowledge. I seems like a departure from his usual MO.
I found the phrase "By the virtues!" out of place in a new world. Maybe it'd just me or it's meant to elude to the presence of Lord British's system of virtues? But I would think establishing that system would take a long time and I have a hard time imagining Lord British being away from Britannia for that long. The thought occurred that if this world is meant to be a distance future Britannia (world has gone by other names in the past) then that would seem to contradict LB's current age in the game which would place the world in the Ultima timeline between Ultima IX and present day SotA. Or I'm just overthinking.
Definitely need WASD controls.
Need a new mouse cursor. It doesn't need to be default but I do think the cursor needs to clearly have a point. With the ankh I'm left wondering where the 'point' is and it's a little unnerving. Perhaps something close to the Ultima IX style?
Your character should probably arrive wearing shoes..
The waterfall textures near the bridge to the swamp seem out of sync with part of it seeming slow.
No one was at the cemetery when I arrived. I had to save and reload to get them to show up.
I think that was about it.
