I've got to admit that Motorstorm is shaping up nicely, and even if it's far from the CGI trailer, it's remarkably similar to the leaked anim gif from last year's closed doors presentation.
(Only the lack of AA is a letdown, I wonder why they can't use it... ... ...OK I'll stop
Regarding 1080p and 60 fps, come on people, take a look at Ridge Racer and compare it to MS or HS or PGR3. The shading, lighting and effects complexity is night and day... It looks fun and it's fast but there's nothing spectacular or 'next-gen' in the visuals, it's obvious they've had to cut some corners.
Even Forza is considerably more simple then the other - graphicaly advanced - titles just because of 60 fps, and they only have to fill half as many pixels at 720p and have loads more bandwith to use.