It looks like it has some nice lighting effects. Honestly, I was never really excited about this game b/c I have no experience with Sly Cooper and b/c we have no info on it. What'll be key is really nailing the sandbox world by making it feel like a living city where you can do whatever. I think that was what GTAIV failed to do.
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
