No. It certainly is the most massive though. So it may be the most impressive. The main characters all look amazing, stunning really, but other characters leave much to be desired and usually have washed out textures. IMO Gears 2 and/or RE5 are currentlly the best looking games on the console. Soon these will be trumped by Alan Wake though. As for consoles period, Uncharted 2 and Killzone 2 are still miles ahead and the only games I see that may take the crown next are heavy rain, God of war 3, Alan Wake, Rage and Brink. Maybe Splinter Cell but I doubt it. Everything else will be well behind these titles.
Your not the only person who said KZ2 but I really have to strongly disagree. It's got too many low res textures, full screen quincux which is known for blurring textures and hence giving it a dull look (though great AA) and due to it being a very technically demanding game it has too many frame rate hiccups here and there even if minor in nature.
As for Uncharted 2, I agree can't see that being beaten by anyone for a long while at least until UC3 comes along. Currently I'm suffering from the Uncharted effect where I can't help but compare other 3rd person games to it. Hence I didn't enjoy AC2 as much as I would've done if I had played it before UC2.