Right, I have watched the trailer, and it the same one that was released at E3, and Selnor claimed looked better than Uncharted 2 then and everyone disagreed
Let's go from the top. Those water effects look ugly. When the water is just sitting around it looks great, but when the boat disturbs it, it looks pretty poor, like the old effect is still in place underneath, and the new effect has just been layered on top. The fire looks pretty average, especially as he just walks straight through it without any sort of disturbance to it, and the lighting has nothing on Uncharted. You also see lots of stuff flying off when bullets hit, but no visual deformation a la Killzone 2, where you could see the impact of your bullets, so I could carve ND into my chosen block and the resultant smoke effects where miles better
I also much prefer the more distinctive art style of the first, it just looks a little dull and dark for me, though the same can be said for Killzone 2







