I think it looks like crap. The disconnect between the cinematics and the in-game models is far, far worse than it was in FF7/FF8. It pisses me off, because they could have done so much more with this game. FFIV deserves far better.
EDIT: I do like the voice acting. Funny, we were talking about this in another thread, I think it would be neat to have the choice to play the U.S. version of this game with the original Japanese voice acting and English subtitles.