I have to say it looked pretty cool, cooler than I anticipated. Its like the series is going for a Metroid Prime vibe for the setting which is a good thing. The gun sounds have more "oomph" and punch to them, you can tell that the sound designer for MGS is definitely not going to disappoint us. Love the new enemy designs that look similar to Forerunner archetecture, sure they look like Bionicles but I don't think that's a bad thing at all. Oh yeah, the game looks fan-fucking-tastic! Not only does it look better than any Gears of War game to date, it's the best looking Xbox360 exclusive period. I like how it focuses on being good ol' Halo instead of relying on gimmicks like Halo: Reach's space battles.
343 is cooking up a damn good game so far and maybe it will wash away the bad taste of Halo: Reach out of my mouth. Yeah, pretty much the only good thing shown at Microsoft's press conference.