It depends on the game.
Mario = Cartoony (and thankfully hasn't strayed from it)
Sonic = Cartoony (unfortunately has strayed from it)
Zelda = Realistic (unfortunately has strayed from it)
Halo = Realistic (and thankfully hasn't strayed from it)
"On my business card I am a corporate president. In my mind I am a game developer. But in my heart I am a gamer." - Satoru Iwata