DN3D was considerably better than any shooter made at the time, massively superior to Doom, Dark Forces, Marathon etc. That doesn't mean this will be great of course, but considering how poor the standard of shooters are on consoles, I can't imagine it not at least being middling.
Next year has two announced shooters I think could be good, Crysis 2 and Rage, Rage could easily be lame, most of id's games are I think, and Crysis 2 on consoles looks a mess, could end up being crap. I gather HL2EP3 and whatever Bungie is doing won't ship next year. The gap between something like MW2 and Half-Life 2 is a gulf so large that it's an embarrassment.
I do think there's a chance DNF's comedy will completely fail. The parody is kind of dead, people don't make those movies anymore for the most part, they certainly aren't the big films. Maybe they could do something fresh, Duke is made governor of a state, gets pulled back into war when aliens invade or whatever, but if they play it like they did in DN3D, I think that aspect will suck.