Actually, if you wanted to compare things that are made in similar veins, Okami (rendered 4x native in PCSX2) holds its own against a lot of things. I think a lot of the debate is silly since games that were made to look realistic back on the PS2 have no hope of comparing to anything made to be realistic in 2012, but games that utilized a unique art style do retain a lot better visual relevance as they age.
By this same token, a game that looks more realistic than BF3 and is even better optimized will surely come out in the next couple of years. It may not be as big of a smash hit, but there will certainly be titles rivaling BF3's appearance and realism. Trine 2 on the other hand might go a long time without an equally gorgeous counterpart, even if it is in the technical sense no comparison to BF3 (or whichever game you choose to compare it to in terms of realistic graphics).