Update: A spokesperson has confirmed the PS3 demo is indeed a no go.
Capcom has just sent over a message saying a demo for Bionic Commando will be swinging onto Xbox Live “in the coming weeks.” The demo will consist of a multiplayer map named Vertigo where eight players can duke it out, Deathmatch style. But this is no ordinary Deathmatch, Capcom warns, “Swing through the air while showering your opponents with hot lead, use the grapple to zip to safety before a grenade explodes at your feet and laugh as enemies plummet from the tops of skyscrapers following a well aimed zip-kick to the chest!” So practice those evil laughs, people.
As for a PS3 demo, sorry, not even a mention of it. The full game arrives on store shelves on the 19th of May for both the 360 and PS3.