Agreed, there were definite improvements in some of what was shown.
Still some inconsistencies though. For instance, around the 2:09 mark you've got Henry brandishing a mace in the arena mode (which could actually be old E3 footage anyway) he clearly strikes the head of the opponent, with seemingly no resulting impact or damage. The enemy looks to be wearing a type of skull cap, but even still a heavy mace strike to the head should incapacitate him (even if it's only momentarily).
I'm sure these little details will be tweaked and balanced prior to release.
The greater coverage the better
EDIT: A lot of people hating on how 'clunky' & 'slow' the combat looks and feels (been keeping an eye out over at IGN). Read some comments about how it looks very restrictive in a two-on-one or many-to-one combat scenario as well.. Combat is going to be the one critical piece that either makes or breaks KCD.