That might be the case if we ignore MW2. CoD4 was godlike, I don't think anyone is going to deny that.
After the first couple months of MW2, though, after all the glitches and balance issues were discovered and heavily exploited, the game became a downright chore to play.
MW3 seems to take many of those lessons, and instead of learning from them, chooses instead to throw them out of the window. Why it completely ignored many improvements that were made by Black Ops (in my opinion a better game, multiplayer-wise, than MW2) completely baffles me.
We'll see how it plays out, but I have little faith after the return of quickscoping and death streaks, the un-balancing and re-fucking-up of the perks that Black Ops tried to fix (sans keeping Stopping Power out of the game), and the insanely cluttered weapon proficiency system.