I just downloaded and tried out the PS3 DEMO version of the game. Here are my observations. I bolded some important parts that might be of more interest.
Just tried the demo.
I'm surprised at how faithful the MT-32 soundtrack in classic mode is to a real MT-32! There are differences. It's not 100% accurate but it is 99.99% accurate. Woodtick (which sounds very nice on a real MT-32) sounds absolutely horrible in classic mode here. Inside the huts of Woodtick sound perfect but outside the huts sounds very very bad. Like they used the horrible Piano patch from the MT-32 for some crazy insane reason. I have no idea why. It's supposed to be a bass and organ and the "Soundtrack" patch (which wasn't even recorded in either classic or special edition mode). Hopefully it'll be possible to patch the classic soundtrack with proper recordings from the MT-32 when resource file viewers for MI2:SE present themselves.
The iMuse is VERY satisfactory. It's not exactly 100% like playing the old game in MIDI but it's so close even I have trouble telling the difference. None of you will notice a difference. One thing I
did notice, however, is that in certain sections they only use one version of the transition (such as when Largo leaves...there are a few variances of transitions in the MIDI version...only one in the SE). But for others it seems perfectly intact.
I'm very impressed with the graphics and animation as I knew I would be. The direct control for Guybrush is also very nice and intuitive when using a controller. And the ability to switch it off is nice. Same with speech in classic mode. Fits well.
But you cannot turn off subtitles in classic mode when speech is activated, if some of you were looking forward to that.
There are no awkward pauses between dialogue lines this time around. It feels and sounds very natural. Also,
Neil Ross as Wally is excellent!
Everything impresses me. The biggest thing I wanted to check out was how they handled the soundtrack, and while there are a few screwups (Woodtick was a big one...worse in classic mode than SE mode, however) I'm very impressed and satisfied. They must have actually acquired an actual MT-32 and recorded everything from the raw iMuse MIDI files themselves when putting it together for classic mode. It's stunning and very enjoyable.
The only thing is you'll not be able to enjoy the classic version of the intro theme. In fact,
you won't be able to enjoy the intro sequence at all because it doesn't exist. It's no where in the game. I was hoping that you'd be able to see it from the menu with the options to select to view the classic or special edition credits. Unfortunately, they're both just regular text scrolls with the SE version of the theme playing. No classic intro guys, sorry

. On the upside, the special edition version of the theme is very well done and true to the original.