As graphics technology improves in leaps and bounds for the next pc generation, more and more gamers expect, and more or less demand, new and innovating concepts to blow their mind.
Do they?
See, I've heard this a lot. But I've yet to see actual evidence that a game with "good but old" graphics (as opposed to "crappy and old" graphics) is disproportionately punished relative to its cost.
I personally believe that the Source engine, or perhaps something slightly more capable than it, is the break-even point for graphics. It's the point at which you stop getting more net money from spending on graphics.
And that's specifically for games involving control over one character or a small party that all walk around or exist in some terrain.