I totally agree with Fastrabbit09. There was a definite line drawn from the 4th generation to the 5th generation and when things went from 2d to 3d the ahhhh and oohhhh factors was indisputable. I remember going from NES to SNES and having the reaction cool images are bigger and more detailed but when I went from the SNES to N64 it was like WOW!!!! It was a totally different world. But now that we are in the 3d era (6th and 7th generation) improvements in graphics are solely for the purpose of making games more realistic and the wow factor isnt as pronounced. I still put value in graphics but like The Ghost of RubangB, to me the the game either looks nice or it doesn't. It doesn't have to be ultra realistic just pleasing to look at, Jet grind Radio still ranks high in my books as does Otogi and Mario 64. Maybe when i get a hdtv and hook it up to my PS3 i might get a WOW but right now its on a crt bulb tv 
