The SEGA references are mostly sound effects, but clearly SEGA stuff. Like the guy who says "HURRY" sometimes says "HURRY UP, HURRY UP" from Power Drift (anyone who has played it knows what I mean), it is the same sound file and everything.
It has the balloons from Super Monkey Ball 2's minigames, stuff from Virtua Fighter's Quest modes, what appears to be the fans from Sonic Adventure's Final Egg (this is a bit of a stretch, but they look EXACTLY like them, same polys and everything), a whole minigame based on Flicky with 3D Blast sounds, the walls that pop up are from Cosmic Smash and stuff like all of the level-up sounds are used from Cupil's sounds for having a cham nearby or numerous "PEWS". There are some other things I have noticed from just the demo, and they are little touches for sure, but I would always smile when I saw them.
I love the music too. I am not sure of the genre, but it reminds me of a mix of Ristar and Jet Set Radio with a dash of Virtua Fighter. I doubt this was intentional, but just on that alone it just reeks of SEGA goodness. I wish all of SEGA's big games had stuff like this.
Is this demo coming to XBLM as well? At this rate it might be quicker to get it from there.
Sony made it sound as if both demos (one for Move coming out soon) on PSN were going to be exclusive. It is not too big of a deal though, the game is almost here.
Also, someone merge this with the other topic.