BioShock is a serious contender for videogame of the year 2007. If you don’t believe the hype, then just download the new playable demo that’s just arrived on Xbox LIVE today. Then you’ll believe it!

The BioShock demo weighs in at 1.3GB, which basically means you have time to go and get a cup of tea while it arrives up your pipe. Or three cups of tea and a little Hob-Nob or two, depending on your broadband connection speed.

A PC demo is set to follow later this month, so we’ll be sure to bring you word on that when we get it from publisher, 2K Games.

In other BioShock news, the game’s developer Irrational Games has had a little rebranding work done and is now to be known as 2K Boston and 2K Australia.

"Following their incredible efforts in bringing BioShock to life, we are proud to make the newly renamed Irrational Games studios a cornerstone of our game development family," said 2K president Christoph Hartman in a statement.

"The name change signifies our growing position as a central part of 2K Games," said 2K Boston president and creative director Ken Levine.

For the record, we think Irrational sounds better, but then we’re not ‘rebranding specialists’ are we!