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1. Yes a lack of RAM could contribute to a slow down.
2. The hard disk could be fragmented, and as the game(even the demo) requires to access and write alot of information onto the hard disk all the time during play, that could be a problem.
3. It also does depend on the processor. If it is a slow processor, it will take longer to process and load information.
What Id suggest you to is defrag the hard drive and start a new game at the moment, and try not to use a lot of programs in the background when you play unless you have a high spec PC, that should make it run faster.