I really like Half Life 2, but Oblivion looks much better. My mouth fell open and stayed open for 10 minutes when I got out of the sewers of the Imperial City, really beautifull.
I was a big fan of the graphics in Resident Evil 4. They were really detailed and cool looking. Its one of the things that made the game absolutely AWESOME.
It would probably be a tie between The Wind Waker and Twilight Princess. The Window Waker has such style and is loaded down with such amazing visuals it's rediculous. But Twilight Princess also looks amazing due to it's realistic visuals.
I probably haven't played enough games to really tell, but Oblivion looks amazing.
Of the games I have played, I think Far Cry has got the best graphics.
Also the physics and sound is great (but the physics is a little better in Half Life 2)
harde to tell in my case its oblivion but eavry one have its own taste and whit eavry generation of games the grapichs gets beter and beter. like il probebly tink quake wars :ET will have some of the grapichs ones its relesd
I like the graphics of FATAL FRAME 2 and 3 and also Silent HILL 3, 4.
I really appreciate "The Canals" in Half-Life 2. The mountains and the sundown was so nice! The water effects and reflextion was cool also.