The thing is, games on current systems look very good to the average person, especially sitting 10' from an HDTV (vs. right in front of the monitor on a PC). There will definitely be a leap, but it's not like we're going from blurry, ugly textures to good textures here, we're going from good textures to great, high polygon characters to really high polygon characters, etc. Just because you have 8x the power doesn't mean you automatically get 8x the detail. Developers will probably balance the power increase between increased resolution, incresed textures, increased geometry, so to use 7-8x more raw power, maybe you have 3x sharper textures, 2x the geometry, and full 1080P at 2x the framerate (60FPS instead of 30). Throw in more modern effects/lighting with tessellation and games will certainly look very pretty, but I don't see this leap as being 'as big' as previous generational leaps.
There's definitely a decent jump, but since the last gen put out some really beautiful stuff, it's not as noticable to the average person as in the past (GOW3 will not look ugly in comparison to anything on PS4). We're getting to the point of diminishing returns on power where the limitation will be more the creativity of the developer than the power of the hardware.







