Excellent review, as always.
However there is one thing I haven't seen mentioned yet.
Immersion, noisy consoles and shitty FPS.
Honestly, I have a really hard time enjoying a conversation in game when my 360 is doing it's normal LOUD-AS-FUCK thing. I fondly remember when consoles didn't sound like badly built PC's by some cheap retard . Or when the games themselves didn't have constant slowdowns (yes yes I know, games back then had slowdowns as well but not to the extent that 360 games does)
Now, I'm an incredibly spoiled PC-gamer tard, so I'm used to high fps, OR (and this is something that I guess console games will never offer) I could lower the settings in any given game, to trade in more fps at the expense of details etc.
Having said that I wish they actually spent a little more time making the game fluid, then... whatever else they were doing. But it's not really isolated to GTA4, it seems like fluid FPS/steady FPS is a criteria extremely low on any developers list of things to optimize for.
Am I the only one on the planet that prefers fluid game play over 1080p content that grinds to a fucking halt every time you hit a trashbin in a park (GTA4 example) or when the game spawns to many enemies (Halo 3, Mass Effect) or just generally gets overwhelmed. A prime example where the game actually looks decent and fps doesn't take a constant hit is DMC4, while not a incredibly good game, it still looked nice and kept a decent frame rate. (And yes, I realize that DMC4 is not even close to as expansive as the GTA4 city is, but still, it shows it can be done)
But meh, seems most console gamers of today are content with 15-20 fps.