Short take based on what I saw.
Graphics - it is really hard to rate this. In some scenes it looks great, in others it looks bad with textures that don't line up correctly or geometry that is offset wrong. I don't think many people will have issues running the game. I didn't see it as that demanding. If you can run the witcher2 , you can run this without a problem on high-ultra.
The difference in high and ultra appears to be draw distance, shadow quality. The system running the game was a quad core @2.4ghz, 4GB ram, GTX260, win7 x64. So not top of the line and the guy had it on high setting and I didn't see any frame rate issues.
Sound is good and fits well.
I absolutely hated the in game menu system. It is VERY console.
combat I tried was with sword and bow and both seemed to work well. I only played about 30 minutes into the game and instead of following the quest line, I just ran off into the woods to explore on my own. I found an orc on the road, picked his pockets then killed him and looted the rest. Followed the road and found a house, picked the lock and entered and was attacked by a bandit who was sleeping inside. Killed him and looted that place too

. Then continued down the road to a bridge where I attacked an elf shooting arrows at me and he fell off, he tried to grab the edge, but plummeted below. Oh well, I went below and looted him as well . See a pattern here
Overall it was fun and I didn't see any game breaking bugs.