A post called Max Payne Demo ETA on The 3D Realms Forums (thanks Shacknews) by Remedy Entertainment's Petri Järvilehto with an update on the status of the demo version of Max Payne. Here's the scoop:

FYI: Getting the demo out has taken a lot longer than we expected. This is mostly due to the fact that we all took a break and vent on a brief vacation to recharge batteries.

Now we're back and working hard, but I'd estimate that it's still going to take two weeks or so, as there's loads of other high priority stuff that we need work on as well.