For me it's the often-discussed aesthetics vs graphics
If the aesthetics are well-done graphics aren't that important.
I think The Void is a good example of that. Most of the game is set in a grey-black outdated-engine mish-mash graphicwise, bringing colour to the void looks like drawing runes in the first Black and White. Unenjoyable game, right? Well, wrong. This game is a masterpiece to me. And will still be later, of that I'm sure.
What I do dislike in modern games concerning graphics is when a game looks half-finished. You know, super-HD characters, super-hydro-flexible-voxel9000-hyper-animated water gushing on a beach that looks like drawn by a five-year-old with wax-crayons on cardboard.
I also think that graphics are much more important in Ego- and 3rd-person shooters than in any other genre. Another round of Baldur's Gate. np. Popping in some Dungeon Keeper? Hell yeah! Digging out my SNES to play some old games? Where's my shovel and dustrag?
Another round of Halflife 1? Ehm.... Deus Ex? Well... uhm Turok? Heavy Metal F.A.K.K 2? God no, get AWAY from me.
I'll still say that to me, graphics aren't important, and I'll invite anyone that calls me a hypocritical arse-face to watch me sink a day into dwarf fortress. Which by the way is one of the best games ever. Oh yeah.