I love Mirror's Edge look, it creates a feel that is unique to it. It also integrates game hints in a clever way, instead of a big arrow pointing you in the direction you need to go, you quickly learn to look for red objects so it doesn't feel like you're constantly told where to go while not leaving you wandering clueless.

Both?

I voted realistic because it takes more effort to pull off well, but I think it ultimately depends on the game.
Cartoony art styles are much easier to make them look good and they don't require as much performance to run.

If I had to put them as two options as above I would go with "artistic" and "realistic" as opposed to cartoony. As others have mentioned there are middle-ground games that don't go for that ultra-realism approach that I would classify as "realistic" in this regard that can still look great. Overall, I prefer a more anime style look to my games. I feel that trying to hit ultra-realistic results all too often in flaws presenting themselves too easily. Whereas in a more cartoon/artistic format you have a lot more artistic license to hide those flaws behind.

As long as its done well, I don't really care.

Edit: i'll never understand why people think realistic =/= colorful. >_>

Realistic, because games with such graphics tend to have a more mature subject matter. Also, cartoony graphics make me think of games 20 years ago, and I think that the technology has advanced so much that it is possible to create more realistic characters and environments.

It doesn't matter as long as the game itself is good.
But I generally prefer Slightly cartoony games, I enjoy stuff like GTA but not stuff like Uncharted or TLOU.

Depending on the game.

Depends on the game.

It obviously depends but I prefer cartoon because I see realistic things all day. I guess I have a bias because as a cartoonist I guess I have to look at realism and create something that isn't real.