No. Platforming has always been fairly awkward in a 3D world. The more "open" the world is, the more awkward it becomes.
This problem is only more pronounced in Sonic games, for 2 reasons. First, Sonic is as about as pure a platformer as you can get. In classic Sonic games, jumping isn't just the core gameplay mechanic, it's the only gameplay mechanic. So, a 3D Sonic is either a dull and awkward affair because the jumping is so awkward, or it is a dull and awkward affair because the designers added some lame mechanic like a gun or (*shudder*) Were-Hedgehog. Second, because Sonic moves so fast, it's almost impossible to build a 3D game large enough for Sonic to consistently run through. So, the game is broken up with lame interludes like towns or (*shudder* again) Were-Hedgehog segments.
Sonic was made for 2D platforming. What I'd like to see is a new Sonic game in HD made in the classic 2D Sonic style.