First playthrough. Just beat the Taurus Demon in Undead Burg and almost got burned alive on the bridge by that dragon. Difficult, yes but it's fair enough (at least when it comes to normal enemies).
Also, still on the Metal Gear kick. Played this years ago as my first MGS game (bad choice, didn't know better) but played through the rest of the games a good while after (finished Phantom Pain a week ago). I understand the chronology and story of the universe now so playing through this again.