I have a question for everyone who's bitching about this "huge downgrade", or cancelling their pre-orders.
Let's say you meet a girl (or a guy if that's your vibe) who is smart, interesting, multi-faceted, fun, and engaging. The two of you get along great. However, you eventually discover that she (or he) has a small physical imperfection; nothing that ruins the entire person, just something that you picked up on that you'd never noticed before.
Do you forget about everything else you like about that person and ditch the whole package?
If you're going to base your decision for getting a game solely on a small graphical "disappointment" (and let's be honest here, the whole thing still looks pretty damn good), you're going to spend the rest of your gaming days being a crotchety whiner who misses out on a lot of awesome titles. And yes, video games aren't people, but (and forgive me for mixing metaphors here) you're getting swayed by the cover of the book and completely ignoring its story, atmosphere, dialogue, involvement, and enjoyment.
IMHO: Don't become yet another self-entitled gamer who demands that all games must be made to their exacting specifications, wait until the reviews are out, and make a decision based on what the game is, not what it looks like.