I think there's a difference between the raw graphical prowess of a game and the actual aesthetic. By aesthetic I mean the style of the design and how it contributes to the world. Its all very well having a seamlessly anti-aliased high definition detail fest, but if the style behind it is dull what's the point? Pure graphical output is inherently worthless, it would be like saying a toddlers finger painting was better than the Mona Lisa because it used more colours.
Think the original GoW, lots of people were turned off by the grey repetitive visuals, despite it being a technically lovaly graphical feat. The world was a bit dull.
Braid on the other hand in no way pushes the 360 but is lauded for its gorgeous visuals. This is due to the beauty of it, not the polygon count (0, I know.)
As far as graphics are concerned I'll take style over substance any day.