For me personally missing for a decent party game absolutely every party mode, as well as the profile selection. I'm going for the time being having to resort to the old-fashioned methods. After the random selection button does in the game, so you can help out with pen and paper.
Either quickly now following an update or Ultimate Party should be nurnoch advertised as DEMO.
UPDATE: After a series of updates is Singstar: Ultimate Party has, although slightly improved, and a mode for short versions of songs has been added, but it is by far not yet "Party" game.