This is one of the reasons why I kind of don't understand this topic, or rather the many replies in this thread. Old games look infinitely better at higher resolutions; sometimes resolutions they don't even support.
Resolution is ALWAYS going to be one of those things that many people don't care about much in the present, why? Because you're playing games that are already at an acceptable resolution, which were tailored for the standards of today. When that happens, of course people are going to say resolution is "overrated". They take it for granted, especially in an era where remasters allows us to look at games the same way we thought they looked back when we had first played them.
It really is an important factor. Not the most important but it's up there.
Edit: Also next gen I want to see better AI mostly : )
Oh yeah. I forgot about AI since this was a mostly graphics-focused thread. I've found it amazing that AI hasn't advanced much over the past decade. Most of it's fairly basic stuff. It's pretty bad with F.E.A.R. still stands head and shoulders above nearly every AAA game out there today. That game was 12 years ago, yet I haven't seen anything since that really made me take a step back and go "Whoa, that's some good AI." Maybe the closest thing to it was BioShock, whose enemies seemed to make decent use of their environment.
Don't forget Killzone 2 and S.T.A.L.K.E.R. Shadow of Chernobyl. All three games stand above all others regarding AI.