As you can see the game oozes style and revels in its presentation. Give it a go. While graphically it may not blow you away as much as some other titles - there is definitely some fun to be had here.
The demo will take you through part of the first level and you'll be able to check out RAGE mode and a car-hopping action sequence. Add it to your Xbox 360 downloads via the Xbox Live Marketplace. Though the official site states it will be available tomorrow for all, today Major Nelson advertised it was on Xbox Live today. As far as PS3 gamers go, I would expect it to show up very soon (as it wasn't up for me when I looked earlier today).