There should be a higher amount of contrast between lit and shaded areas. The camera lens or your eyes can either adjust to the intensity of the light reflected from the directly illuminated area, in which case the shadows should be much darker; or to the shadowed area in which case the lit surfaces should be a lot brighter, probably even overexposed.
The console screenshot tries to remedy this, by using the new linear lighting, but something's still off. The sky shouldn't be this saturated, just as the rest of the image actually, and the lit areas are still not bright enough.
There are basically two approaches to solve this issue.
One is to manually tweak every variable until it looks right, which is complicated even if you have a linear lighting pipeline; it usually requires different settings for different lighting conditions to look realistic, so if you can't change them on the fly then something's probably going to end up looking wrong.
The other approach is to make everything physically correct, from light sources and their intensities through energy conserving shaders to realistic exposure/tone mapping.
Just compare the above images with practically any Battlefield 3 screenshot.
This one is particularly good, the general intensity of the shaded and lit areas is much much more correct.