Bar one or two bits of architecture, there hasn't been anything pretty in an id software as long as I can remember (but I'm probably overlooking something). I can only hope that Bethesda use megatexturing for a game that's either a direct or spiritual sequel to Oblivion rather than Fallout ...
I think some of the scenery in the screenshots in Rage are already beautiful, but I love the desert SW. On the other comment I agree 100%. The reason I am pumped for megatecture is to see a game like morrowind, or oblivion where you explore and things actually are different everywhere. The procedural stuff in oblivion did ok at hiding repetition, but in the mountains it was fairly bad IMO.
That is one of the funny things to me everyone is upset that Rage is boring and deserty, but stark environments are where MT is most necessary IMO. If you through grass and trees, jungle vegetation all over you can hide the repetition. In a desert or alpine environment there is no place to run and no place to hide.