Well for me graphics is looks as well as performance. I don't see how it's credible to claim best graphics on console on looks alone and ignore significant shortcomings on performance. The best screenshot from Crysis 2 will (it seems) look better than the best screenshot from U2/KZ3/GoWIII, but that's only half the story. If the graphics heavy weights on PS3 suffered from the same flaws as Crysis 2 then there would be a clear cut case to make in favour of Crysis 2 being graphically superior. But because those PS3 games are very solid on performance the case in favour of Crysis 2 is considerably weakened.
The DF analysis suggest with some further refinement and more experience working with the consoles Cry Engine 3 could produce the best graphics on console to date. But by the time things are further ironed out to achieve rock solid performance with a Cry Engine 3 game, along with real purrdy looks other games will other games have moved past the good looks? Not least of the contenders being Rage. By the sounds of what John Carmack is saying Rage will be a serious contender for best console graphics, achieving excellence in looks as well as performance.
A bit like competition ice skating it seems like Crysis 2 got excellent marks for artistic merit, but was let down a bit on technical performance.
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