The graphics are not that bad that most of you make it out to be. Yes, it is DX9 but if you run it at 1920x1080 with all features enabled with the config tool it looks fantastic. The water effects are the ONLY difference from Crysis 1 since they are DX10 there. What a bunch of whiners...
If you dont have a rig to run this at 1920x1080 at AA and AF 8x and 16x then yes, it does not look all that fantastic. But with all the bells and whistles on it is by far one of the most good looking games of all time on the PC trailing Crysis 1. There are quite a few texture misses but I am talking about the overall picture here.