Today in America and tomorrow in Europe PS3 and Xbox 360 will get the Ninja Gaiden 3: Razor's Edge demo. Tecmo Koei announced this morning that you can play as both Ryu and Ayane in two separate stages. Ryu's stage is in a desert in Dubai, and Ayane's will be in Paris.
Later on, the demo will allow you in unlock Kasumi as a playable character. You'll also be able to unlock Chapter Challenge mode that lets you use both of the characters in each other's stages, once you complete both Ryu and Ayane's stages of course.
At the start you can play on Hero and Normal difficulty levels, unlocking Hard and Master Ninja levels.
And if all that content wasn't enough all Karma and Ninja Skills acquired in the demo will transfer over to the full version of Ninja Gaiden 3: Razor's Edge. The game will be released on April 2nd in North America and April 5th in Europe.