It's amazing how much Ninjablade posts on these threads, and also amazing how many people respond to him. Anyway,
The difference between PS360 and WiiU/PS4/X1 so far seems so small to me in terms of the instant visual impact. The biggest differences so far seem to be in terms of resolution, frame rate and lighting.
In the most recent comparison photos showing B2 and GOW, I don't think anyone should be expecting either one to look dramatically better than the other. GOW is a work of art. The character models are flawless. I don't care what kind of hardware you give a developer, it's going to be hard to make something prettier than that. B2, as well, has had a lot of effort behind it, and the characters and backgrounds look fantastic.
The technical differences we will probably see are possibly a higher resolution and most definitely a higher, more stable frame rates. Also, the lighting looks much better in the B2 pictures. If you look at the torches in the GOW photo, they're not actually a light source. In the B2 photo, the sun bounces off the plane and Bayonetta in interesting ways. These effects are also evident in games X and Mariokart. MK in particular for me looked very "next gen" with it's polish, especially the lighting. These effects can't be reproduced on older hardware.