The Last of Us is easily the most realistic, I still stand that the last scene of that game is one the most realistic moments in any game to date.

I would say God of War: Ascension is likely more advanced as far as how much technically impressive it is, tho.
Not only it looks stunning but it also has simply incredibly things going on.

Will vote for TLoU as far as graphics go, but GoW:A is the most impressive game from the PS3, IMO.