bdbdbd, maybe so, but several of the least powerful systems graphically have dominated sales in the west. I personally like really awesome graphics but it isn't a deal maker for me. Just like I appreciate a great score but will enjoy a game without it. Although I do think framerate is very important and wish sometime devs would scale back the detail to achieve a smoother play. But the only people who seem to go gonzo over graphics are fanboys of whichever system has the best graphics at the time (ex: PS3 owners and Killzone 2) and at that point it becomes important... but overall a game can have the best graphics ever if it doesn't play good, or plays down right bad most people will steer away.
Sometimes I feel these are just misconceptions about the west. Like that all we play are blood drenched sterioded shooters. To the reverse the coin I would say something like Japanese gamers only care about playing games with hour long boring cut-scenes that have overly annoying characters. That doesn't mean its true for all or even most. On that note I sure am enjoying Star Ocean and its long boring cut-scenes and overly annoying characters :P