You know, as the action genre obsessed jackass of the boards.
I'm going to have to defend DMC and Ninja Gaiden.
I think, due to the very nature of those games, it's really hard to have a PERFECT camera.
Rather, what does it for me if the developers realize that facet, and create enemies that have telegraphed attacks both in a VISUAL and AUDITORY sense.
Take for instance, the shotgun using puppets from DMC1. They attacked from far, so sometimes they were off of the camera's view. However, they ALWAYS made a distinct "shotgun" twirly sound before they shot. Kind of made it a "use your ears and eyes" type of game. Basically I defend those games because I've YET to see an action game of NG'/DMC3 intensity that has a perfect camera.
God of War had a pretty good one, but it wasn't really stylish, and the camera angles were TOO FAR. Brought you out of the action, made it seem like if it was "spec versus spec" on the TV screen.
To answer the question at hand...Dino Crisis 3.
Crap camera. Boring camera (that is to say it was stylish or anything) and enemies HAD NO telegraphed attacks. My god, if I can't see the enemy attacking me, at least let me HEAR it attacking me.
And yes, I've played other games with not so great cameras but like some others have said, you get used to it and play around it and in the end enjoy a great game. But Dino Crisis 3, as cool as the game seemed, I COULD NOT play it. The camera was just....aaaagh >_<