Someone earlier stated stepping out of the sewer in Oblivion... that is 100% QFT. I just sat there and stared at the scenery for a couple of minutes before i started to actually play.
Gears of War is also very "next-gen" for its stunning visuals and atmosphere. Metroid Prime 3: Corruption was also amazing for the very tactile feel of controlling FP with the Wiimote. I never thought I would get that awesome feeling playing FPS/A on a console.