Just had a one and a half hour session of God of War 3. Boy oh boy! Ain't the game brutal! The intro sequence as Allwyn already described is probably the best you'll see for a long time. Within the first hour of the game, we get to beat the crap out of the undead soldiers, climb the mighty Titan Gaia and slay a God as if he were no more than a low-life thug.
The game kicks off with a long intro sequence which takes us through a main events of the previous 2 games coupled with awesome music. Within first hour of the game we get to slay a God. Kratos turns Poseidon's face into a scrambled egg before he throws him off the mount Olympus. The way he beats him is more brutal than both GoW1 and GoW2 combined. Gameplay is fun as hell.
Graphics have already been described by Allwyn but I'd like add my personal opinion. Though the game looks fairly better than Uncharted 2, the camera being fixed gives an advantage to God of War 3. The developers could make the viewable area more detailed unlike Uncharted 2 where the environments are huge. So, I consider both God of War 3 and Uncharted 2 as equals.
The thing I hated about the previous God of War games was that the cutscenes were rendered beautifully but as the game shifted to real-time, the textures got all choppy and the graphics got dumbed down. Maybe that's just me as I played both those games in the last week itself. In God of War 3 you really don't seem to realize when the game shifts to realtime. Now that's some real work done there by Sony. Motion-Blur makes the shite look even better.
Audio has always been great with God of War games. Both music and voice acting have been done superbly.
For all the God of War fans, the game is a must-play. To all who haven't played this game, just do it now cause only few (maybe none) games match up to the awesomeness of God of War. If you have a PS3 and still haven't played this game, I've got something to say, you see that Window? Yeah the one right there. JUMP OUT OF IT!
Your definition of 'Epic' is about to be shattered. The game redefines that word.