bioshock(System shock 2.5) looks a LOT better
the water effects are piss - theyre like water effects in a direct X 5 game
It is a bit of a given a game set under water and where the developers in interviews said one of the first graphical elements they created first and continued to work on all the way through the development being the water that the under water game would have nice water effects But halo 3 water is far from crap
This is multiplayer beta which has graphics turned down compared to single player for better running over the net
http://www.gametrailers.com/player/usermovies/94934.html In Beta mode
Far from crap to me even on the flash video and has the physics to back itself up
Some wont like the game and that is fair enough and it is not and wont be the best looking game out there but to say it looks crap and the water for example looks crap is talking a bit of bullcrap.
Bioshock is an inclosed game and as such you can do a more with the graphics, Halo 3 is no slouch in its graphics but is a lot more open with a lot more going on, when you run theatre you can go to all of the locations and most are massive and everything is moving and running and Every thing in the air etc is a model and able to be destroyed.
You cant reach them but the massive ships in the air will take damage apparently and you can shoot anything else out the sky and on legendary with 4 people and just a ton of mobs no lag or slow down
Very different games and a bit daft trying to compare them in that way