I don't want to say I'm disappointed with the graphics, but what they showed doesn't match Resident Evil 5, Killzone 2, or Uncharted. The look was very... gray. Now I know it's early footage, and GT doesn't have the best HD, so I'm confident that when the game ships, it will look even better than what they showed.
As for the gameplay and design, possibly the best and most creative I've ever seen. I loved how Kratos was not only battling a horde of enemies, but they acted like a horde of enemies. None of that battling one at a time nonsense that is in almost every other game.