Battlefield has always been a great-looking series on both PC and consoles, and just because Battlefield 3 uses the fancy new Frostbite 2 engine doesn't mean any particular fanbase is going to suffer.
DICE Art Director Gustav Tilleby spoke during EA's press event at GDC, and ended up telling X360 magazine (as noted by NowGamer ) that their Frostbite 2.0 engine allows them to be "a step beyond" their competitors." That much is obvious from the first few pieces of footage we've seen, but as those were rendered on high-end PCs, some were wondering if console gamers would get a slightly inferior version this time around. But nobody has to worry, says Tilleby:
"The positive thing is that the new rendering technique allows us to do more complex calculations at no extra cost. That’s the magic. The game will look very good, even on 360."
That last bit is going to prompt even more speculation; the gossip-hungry forums during GDC might want to interpret it two ways: 1. the 360 is less powerful (which of course it is, but most developers don't mention it specifically), and/or 2. for some reason, the PS3 version might actually be better than the 360 version. But we aren't going to read anything into that comment; the bottom line is that Battlefield 3 should look amazing, regardless of platform.
Related Game(s): Battlefield 3