Alright, just played a bit as I compared the released game to the video provided at PAX 2012. Here is a rundown of my thoughts.
Alright, off the bat, the physics on the grass at the very beginning of the intro cutscene are better in the finished product. As are the physic's of Skullface's clothes. There also seems to be a new "tilt shift" depth of field going on in the final game's first shot.
Secondly, character textures and shadows have an obvious improvement from the original reveal. Chico doesn't even look like he's in any kind of dark environment in the original reveal.
When Skullface and his men enter their truck, the contrast between dark and light appeals to me a lot more in the original reveal compared to the final game. It actually seems dark, except for the trucks light. Mr. "marine guy close-up" in the truck looks better on the final product though.
Moving to the helipad, the next gen (NG) version has more rocks and detail with polygons, where instead the original reveal (OR) has a very bright orange light showing through some smoke. Perhaps helicopter signals? NG has brief shadow pop in on an offscreen object coming from the left. Point blank range, and makes it kind of immersion breaking.
NG wins out when we look at the side of the base building, OR does not have flapping tarps or construction beams.
Skipping much farther ahead, Big Boss sneaking on the wet ground seems much better in OR. The rain has little "pitter-patter" details in the OR that are just non-existent in the NG. It's weird how good it looks, so good, that the only way that NG could have ended up without it was that they forgot, which makes no sense. There is also a rock reflection in OR, no such reflection exists in NG.
Side note, but did they really use facial capture from the English dub in the Japanese version too? Because Akio Otsuka's "Mata jya na?" is very different from Kiefer Sutherland's "Kept you waiting, huh?". It would be pretty weird, considering the whole tech behind it, the OR's Big Boss face looks good, but may be animated traditionally, before they decided to have facial capture in the first place, or maybe just before they had figured the method out. Although, I find this unlikely, now that I think about Chico in the cage, Kojima has said that Chico's face in GZ was comprised of many different models, and they had to get it just right and make it match the voice actor's performance. His face and expressions are just too similar to NG for facial capture to have not been implemented at this point, so what gives?
Anyways, the OR's vista has a lot more lights than NG. However, the warehouses in the distance look a lot worse this way in my opinion, and even though I like many of the lights that were lost in NG, the view looks better in NG overall here. First glimpse though of the ammo storage building's much greater shadow distance.
The iDroid physical device looks close on OR, but NG is better.
The lightning makes a bigger impact in OR, but the starting surroundings have higher poly count and more grass in NG. Better textures once again too. However, the rock Boss hides behind has better rain flow specular lighting in OR versus NG which has nothing. This is just speculation, but the actual "prison area" not the "old prison area" but the one on the west side of the base that you can't enter, seems to have been a place you could go originally, guess it didn't work out.
I notice that there are less places to hide, less lines of sight blockers. Which also means that the game is not rendering as many objects in OR, so score for NG here. Score in the gameplay department too, because without enough places to hide I'm sure the game would be very frustrating.The road is sharper in NG, but less unique in its construction, less pronounced in its cracks. The road may be sharper, but it is missing something in NG, reflections. The NG road will refract headlights, but not even a tiny bit of reflection is present on the watery asphalt. OR is more overtly wet too, though I'm not sure one way or the other whether OR or NG is more realistic in that regard. Although I prefer OR road in this sense.
The trend usually is that NG had better textures, and OR has more lights and farther/more frequent shadows. I have to point out that during gameplay I have noticed multiple times that the gun flashlight passes through obstacles. It will light a balcony floor, and the ground below it, without casting any kind of shadow. What does and doesn't cast a shadow is important to note to determine the difference between the builds, and while I have confirmed with the searchlight that the ammo building does indeed cast one in NG, it stops being visible within 20 steps. 20 steps! Any further, and you have no idea which direction the light is coming from, because the shadow is just gone.
So, all in all, let's break down the score.
OR:
+Contrast between dark/light seems greater to me.
+/- Trip to helipad has an orange helicopter signal flare that provides some nice muddy refraction eye candy, but in NG there are more rocks and little details instead. Could be considered better or worse.
+Way better close-up rain drops. Big Boss sneaking in the mud is given a very realistic "rain on ground" effect, unique from the one used in gameplay for both OR and NG. Really big plus for OR for me.
+Reflections on wet ground, including the scene just mentioned (cutscene) and on the wet road later (gameplay). NG has reflections in neither cutscene nor gameplay.
+More striking lightning than NG. When lightning flashes, it is more pronounced, but maybe they reduced the effect in order to not have to explain why enemies wouldn't noticed Boss after a random lightning strike. Could be problematic.
+Wet rain can be seem drifting down a rock Boss stands next to, no such effect is present on NG, just rain drops.
+More dynamic lights at a time. Although this is in a bit of an overload meaning thatareas that are better off keeping dark are highlighted, the warehouses look especially bad in comparison to NG. Still, more lights means it's more technically impressive, and the guard booth's lighting in particular seems better and very moody.
+/-Less "sharp" road textures, but more pronounced cracks and wetness. I suspect this road texture was simplified to be more standard, as in the NG it looks rather "painted on"
as if quickly put in a level editor. It may have been unique, and then made less so in NG to repeat less obviously. The wetness is good, and once again reflections shine through.
+++Actual draw distance for cast shadows! The ammo storage building is nicely highlighted with a great shadow cast from a light nearby, and it really shows off OR. NG can reproduce such a shadows, but only within 20 steps, before the shadow fades from view. The draw distance for shadows is much bigger on OR.
NG:
+/-Physics for grass (in cutscene), and clothes are better. However, maybe I should just note this above, and this may not be considered "physics" exactly, but the rain splash effects are better in OR, with OR having NG's rain drops, plus smaller more detailed rain drops, as well as rain drifting down a rock.
+Better textures all around for the most part, as well as more rock "decorations" spruced about the ground.
+Better facial shadowing, Chico looks much better, doesn't look like he has a lamp in the cage with him in unlike OR.
+Mr. "marine guy close-up" has better facial textures in NG.
+Better rocks and details than OR on the way to the helipad, however, an orange helicopter signal flare is missing in NG, which also has brief shadow pop in at point blank range.
+Much better base, with more details like construction beams being good set dressing, but the tarp flapping in the wind being the real stand out here.
?Perhaps fully implemented facial capture? I'm not sure whether OR had actual facial capture for BB, but I'm sure Chico did.
+The vista looks better, more detail actually, but less lights. Works in NG's favor here though.
+Better iDroid interface and device. Rain looks more like a three dimensional droplet rather than just a texture like OR.
+Higher poly count ground, Boss, and helicopter.
+More grass in the starting area, less dithered, but I prefer the taller grass OR.
+More objects being rendered (more boxes to hide behind).
+/-Kind of sharper road textures, but sacrificing unique cracks for ease of placement and repetition in editor I'm sure. Not as wet as OR though, and no reflections of any kind, pretty disappointing in that regard.
So, that took about two hours, I think it's a pretty good analysis. Tell me what you think!