It is actually shocking how good Killzone 3 looks. They were super ambitious with KZ2 and KZ3 took what they had before and brought the scale up even further.
God of War ascension was also a showpiece for the system but it also has the benefit of fixed camera positions and environments only visible from a distance. The Last of Us is just the perfect case scenario when it comes to graphics, however. Everything is so well done and they even have proper bounce lighting from the flashlight.
I have to say TLOU but those other two games stand tall with it.