I got this for the xbox 360 a few days ago - I'm fairly impressed up to now (not played single player, I rarely do)
My main problem at the moment, and its a pretty big one - is how weak sniper rifles seem to be. I've unlocked 2/3 and the damage on them is ridiculously weak. At pretty much any distance it takes 2-3 shots to down someone - I'm not a bad aim, most of my shots hit the neck/torso/head, yet players seem to carry on running like a bee has stung em' :/
Also - the mortar launcher "perk" is unlocked far too early on, and is quite simply too overpowered.
Graphics aren't anything to shout about. Modern warfare excels there, that said the maps are far, far bigger than MW2, so graphics probably had to suffer as a result. (I liken the graphics to even some PS2 games tbh ("Black" isn't far off atall)
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Last moan is the HORRIFIC noise at the end of each game, if you're losing - Its like some kind of horn that warns you you're losing, but the noise out of it is incredibly annoying.