Man, am I glad I don't have expectations on the level of some of you. Even if these *first screenshots* end up being representative of the final game, it still looks okay, and being the game that it is, the art direction is going to count for far more than the technical proficiency.
It doesn't look great, but it's acceptable. You'll forgive me if I feel the comments calling it Dreamcast level are a bit disingenuous - aside from ethelred, every last one of those saying it looks like shit or a DC game are known to be "Wii haters", and thus the comments are immediately suspect as being yet another barrage in the goofy-ass system wars that pervade our hobby.
There's a difference here from the original in one aspect - that game pushed the Saturn, this one wouldn't even be pushing the Gamecube. But otherwise, it feels the same, because I remember hearing from a lot of people who didn't own Saturns and had no plans of buying NiGHTS anyway say how shitty it looked and how they weren't going to buy it.
So whatever, you've gotten your jabs in. I'm quite certain there will be many more to come. The old Sega fans, the real fans of NiGHTS, we don't give a shit. This is a game that we never even dreamed would happen, a sequel to a game from over a decade ago, a sequel that as each year passed, the odds of it ocurring got smaller and smaller. And now we're actually getting it. This could have been a ****ing Game Boy Advance game and we'd still be giddy. Sega could have slapped it on the Virtual Boy and kicked me in the nuts every time I closed a Paraloop, and I'd still be joyous.
Keep on raining and storming gents, you won't be wiping the grin off this old warhorse's face.