if you're using a mid-highend PC an xbox 360 or a PS3, there is a definite increase in visual quality.

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system: Intel Core 2 Duo e6400 @ 3.6GHz; 4*1GB RAM(micron D9GCT) @ 450mhz(DDR2-900) 4-4-3-8; Enermax Liberty 400AWT PSU; nvidia GeForce 8800GTS 640mb (660mhz core; 2120mhz mem)
If you liken America to the Titanic, Obama is the iceberg