Its funny that FPS games are measured up to Halo, I don't see anything amazing about it except that it did a good job with controls (mainly vehicle controls). Other than that. . . Or maybe it's just console FPS games, whatever.
Anyway, my excitement for Killzone is based on how it looks compared to the pre-rendered footage. Even if it doesn't look as good, I'm also eager to see the immursive experience to see how it matches up with the pre-rendered footage as well when it comes to sounds and things happening all around you (that's what I like the most about games like Battlefield 2 with 64 players online, crap happening everywhere).
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To the origonal Killzone's defense, it indeed seems to have suffered a lot from glitches and such where a little more time could have fixed all that. If it is true that it was developed for the PC and then switched to PS2, I can forgive that a little bit too because it's like saying Half-Life 2 is crap because it didn't look that great on the Xbox (even though the PC version is much better).