Though kinda a commonplace, but a grist for your mill - Ico and Shadow of the Colossus, the latter one came out in 2005. PS2 hardware was outdated at the time, but game still was beautiful by numerous reasons, mainly due to carefully crafted animation. A lot of best-looking games on screenshots were butchered by clumsy animation.
Regarding Heavy Rain, I dunno why all of a sudden it even became hyped like a graphics marvel. So the bottomline... 3d models, texture resolutions, animation, overall art-design etc. - all should be taken into consideration when we speak about visual representation.