One of the best pieces of advice I ever got for doing demos is to just plain record them in advance and play back the video, narrating live. Then the unexpected stuff happens in private and you get as many stabs at it as you need.
You still usually need some environment to use as a reference for questions, but for the presentation bit, recording it in advance (and rehearsing your narration over the video) pretty much guarantees you can be at the top of your game.
I also like to put small jokes into the slides and that recorded video that make it seem like the person who made the slides is commenting on the live proceedings or that someone else is actually running the slides. Often, I make absolutely no reference at all to the joke in the slide.
For instance, in my most recent demo presentation, I had a slide with the text "ASP.NET MVC" centered that I was talking over about how I was using the framework. In a smaller font, I had the text "Catchy name, huh?". When I did that demo live, that slide got a chuckle. It's not stand-up worthy by any stretch of the imagination, but we're often presenting some pretty dry stuff and every little bit helps.
Similarly, I've included slides that are just plain snarky comments from the offscreen guy about what I'm planning to say. So, I'll say, "The codebase for this project needed a little help", while the slide behind me said "It was a pile of spaghetti with 3 meatballs, actually" and a plate of spaghetti as the slide background. Again, with no comment from me and just moving on to the next slide as though I didn't even see it actually made it funnier.
That can also be a help if you don't have the best comedic timing by taking the pressure off while still adding some levity.
Anyway, what it really comes down to is that I've been doing most of my demo/presentation work just like I would if it was a screencast and then substituting the live version of me (pausing the video as appropriate if things go off the rails) for the audio when I give it in front of an audience.
Of course, you can then easily make the real presentation available afterward for those who want it.
For the slides, I generally go out of my way to not say the exact words on the screen more often than not.