The demo contains 1 playable character, tutorial and 2 of the game modes. Arcade three rounds of one fight and 2 battle zones. Full version is 8 fights and 17 battle zones. Story mode you can play up to 10 minutes at time and complete up to the first 3 quests. Full version has 35 quests and no timer.
Inventory, character leveling, paper doll are all fully playable in the demo.
Play is unlimited, go in Arcade or story mode as many times as you want. Your character will level and save. Characters are reset upon exit of the game demo.