You are correct, the Motorstorm trailer was also amazing. Graphically, it looked a lot better than Killzone but what really impressed me where the physics. Everything looked flawless and behaved the way it should. I can't believe that I forgot about the Motorstorm trailer! Thank you for reminding me! 

Racing games do seem to look better than any other genre since they have a fixed course and predicatable user behavior so it may not take as long as you think(still pretty long though)

Agreed!

richard, afree, and everyone else that actually wants to have a real discussion on this, please just disregard everyone saying Killzone 2 or February 27th. Lets keep this discussion to people with good vision, a keen eye for graphics, an understanding of computing, and fairly adequate logic.

 will do, chief.

I don't know why but I think that next generation, Naughty Dog and Epic will be the developers pushing consoles to their peak. Guerilla made Killzone 2 good but that was out of pure manpower. I think Naughty Dog is a much more skillful developer.

It is said by many reviewers that KZ2 got pretty much in the same level has de E3 2005 trailer...

By people who either have low resolution screenshots or never actually watched the entire video at 720P. The E2 2005 screenshots are impressive, yes, but the way everything comes together in the actual video is many times more impressive. Also, it's not just graphics that make the trailer amazing, it's the fluid dynamic animations and other components. Reviewers aren't always the most tech sevy people. Don't get me wrong, a lot of them know the basics, but unless they actually have a very strong graphics background, they will make silly statements like that.

The thread could end here and I would be happy. Very nice post, CGI-Quality.

From what I've seen, it seems that so far Uncharted 2 will be closer to the Killzone 2 trailer than Killzone 2. If Naughty Dog does nothing but take Uncharted 1, improve the graphics(which they did), improve the dynamic animation system a bit (which they did), have great voice acting (which they did), and maintain the cinematic experience (hope they do) then that game will be my pick for this generation.

I think Killzone 2 looks good, but as far as the whole package go, it doesn't make me go "wow." I know it's one of the best looking games, but it just doesn't make me go "wow." Early Uncharted 2 pics have though; that art style + top noth animations + voice acting + engine = big pat on the back from me. That said, Killzone 2 still looks great.

This is part of the reason why I attempted to shift the discussion to Motorstorm 2005 E3, which actually impressed me more than the KZ 2005 E3 trailer.  I believe this discussion should be about when we will hit target seen in top videos IN GAME on consoles, not turn this into another Killzone 2 thread.  There is FAR too many of these, and I am probably guilty of creating too many myself.

If KZ2 were called Haze 2, and it was on the 360, there wouldn't be talk now of people saying it the end of February we will be seeing 2005 E3 Killzone level graphics.

By the way, I would stand by Uncharted being a good candidate for suggesting GREAT graphics.  At least I think there is a shot at it being discussed rationally.

The graphics, textures and fixed mesh is one thing. Post processing and lighting/shadows in real time and emotive AI that acts naturally (or even at all) outside of scripts are the real taxing bits of a game, sound also draws quite a lot, especially in games with so much going on.
The animations, synching, particle effects, tracers and lighting in the E3 2005 trailer of KZ2 is beyond this generation of hardware (even top end PC's can't do that in-game just yet).
When this eventually happens, it'll be a PC title, that much I'm sure of, and it'll be a few years yet.
Like the OP says; the graphics are uncannily close to the target render, but the target remains a render at that, with many additions and details the PS3 (or 360) hardware has no chance of putting forth.