4xMSAA with equivalent transparency AA is acceptable. 8x is better, but I can live with 4x without it bothering me. Specular aliasing continues to be a problem, however. And not all transparency AA solutions are good either. The better ones, based off of supersampling tend to be quite demanding, especially if there are a lot of transparencies in the scene.
4x or higher SSAA, preferably not ordered grid, is better. But as I said 4xMSAA with equivalent quality Transparency AA is enough that most aliasing won't bother me when playing a game.
It's all about gradually reducing or removing things that annoy me on screen when I play games. I don't expect all rendering artifacts to be eliminated immediately or within one generation of graphics hardware. But I do like to see progress.
On PC many games have had a regression with worse AA now than what we had 4 years ago due to the proliferation of compute based AA, most of which is absolutely horrible, IMO. I recognize that what we'll be getting on PS4/XO will be better than what we had on PS3/X360, but it's hard to disengage the PC side of my brain. So I still see a lot of regression versus overall progression. It's more annoying when I think that for many PC ports, the AA will be guided by what was possible on console. And hence, still stuck with worse AA than what we had years ago.
And yes, I know that MSAA isn't easy to do with deferred rendering/lighting even with some of the things put into Dx10/11 to facilitate its use in those situations. But it doesn't make aliasing any less annoying because of that.
Regards,
SB