I'm sorry but a picture is worth a thousand words and those screenshots look awful. It seems like Gearbox has used this art style as a cover for low-res washed out textures, poor (or no) AA, and crappy reflections.
Everyone take a close look at those screenshots, specifically the first one in the gallery. Is that really what our gaming experience should look like? No thanks.
I really think they are going to miss their PC customer base with this graphic "style". The realistic graphics where much better, the only reason they switched was because people thought it looked too much like Fallout 3....they wish.
I'll wait for the final reviews & screenshots before purchasing this one.

The graphics are not so great. But i saw the gameplay video and it looks nice. I, personally, never plunge into something that is heavily relies on online gameplay before i see some opinions and reviews.