I've played through the Prey demo a couple of times now, and I must say that I am truly impressed. Unlike any game before it, Prey actually exploits the third dimension. Wall and ceiling walking are commonplace throughout the demo (for both you and your enemies), and the effect is somewhat disorienting at first. But the result is nothing short of incredible. You literally have to keep your eyes open in all directions at once, upping the tension level considerably. And the gravity shifts make for some interesting puzzles.
The other neat piece of tech featured in this game is the portal concept. Sprinkled throughout the various levels are portals to other areas of the map. In most cases, you can walk entirely around a portal, proving that it is indeed flat. But enter through it and you are seamlessly transported to another area. The effect is well done and also offers up some intriguing puzzles to solve.
Apparently, Prey will be released on July 10. If I can get my system to stop crashing when I play games (I've ordered a nice Zalman VGA Cooler for my graphics card) I'll definitely pick this title up. If you haven't played the demo, I highly recommend it.