That may be the case with the full version of the game(s), but I at least am having a different experience with the demo. I just turned off my cable modem, tried to launch the demo, and got a Steam dialogue box telling me that the game was unavailable at the moment (or something similar).
So we are left speculating if the long delays on initial loading screens are some kind of Steam side effect or something inherent in the E:TW game. My own guess is that it is something that is demo specific and we won't get it in the full game.
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