I hate to be the bearer of bad news, but sometimes that's my job. I'm sure that plenty of you have been waiting around for Metal Gear Solid 4, however, if you're anything like Hideo Kojima (creator of Metal Gear) you're going to be disappointed.
Don't worry, the gameplay is still supposed to be as awesome as you'd expect. Unfortunately Kojima is disappointed with the way the graphics turned out. Apparently the PS3 isn't quite the awesome gaming machine that he hoped it would be.
When we first showed the game engine at TGS, the staff were really proud and happy. PS3 was a dream machine, y'know, and we were going to work on this and that - and we had so many ideas. But when we actually started developing the game, we realized there were a lot of restrictions and so it turned out how you see it today. The original vision was to go ten steps further, the reality was just one step, which isn't to say we didn't progress.
I wouldn't get too worried about the graphics. The PS3 is a more than capable piece of hardware, and I'm sure that the game will still look very kick-ass. It's a little disheartening to hear that the PS3 wasn't able to deliver everything that the team needed to realize Kojima's dream for the game, but it's still going to look great.