Mario 3D World probably cheats by having simplistic graphics and non open world gameplay but, as an owner of everything except the PS4 and Xbox One, I can honestly say the image I see on screen pleases my eye more than anything I've seen on a seventh gen console. They're comparable but 3D World just pops. Maybe it's the art style. Now, it definitely doesn't look as good as stuff I've seen on PS4 and The One but on a non-technical level, on my LED HDTV, the game has wowed me.
I think that, like Wind Waker, 3D World will be one of those games that looks fantastic for years to come. It's a shame we Wii U owners are competing in graphics wars against last gen consoles but, unlike the Wii vs Xbox/Gamecube, I can already see the jump in quality. I hate to admit that the Wii never showed me a leap over Starfox Adventures, Rogue Leader, Riddick, and Bad Fur Day.