We'll have to wait for E3 to see if there are any stellar examples for the Xbox One--I suspect there will be a few great looking demos. But like last gen, I think it's going to take a year or so before we see anything outstanding graphically on either next gen console. We'll see the easy stuff first--higher resolution textures, faster framerates. Compared to current PC titles, they're just not going to look all that great. The same goes for gameplay. We won't see anything truly new at launch. Most of the games we'll see over the first year will be safe, derivative titles that will sell well and cement the financial stability of the developers. So I'm not expecting fireworks the first year on graphics. Things will look better, but not mind-blowing.
The difference between 30fps and 60fps is often a bit subjective. Obviously 60 is better if you can get it and not sacrifice fidelity, but I'm not quite convinced either console will be able to do it--at least not at 1080p with the textures and effects people seem to want. At least not yet. If I was supposed to be wowed by the COD:G demo, then they failed. It looked good, but not jaw-dropping. Killzone looked cool, but gameplay-wise a bit stale. That's how most of these games are going to look to me. Like stuff that I'd have been happy with on current-gen consoles.
I've yet to be truly impressed. That'll probably change at E3. At least, I hope so.