I don't think its fair to say Beenox didn't try.
Your trying to fit this kind of game onto 512MB of memory after all.
"Last gen devs did it!" Is really stupid because back then they didn't have a choice and development pipelines were totally different. You can't simply "go back", to that kind of optimization effort, especially when your just a porting studio and not even a development team making the base game like last gen.
COD3 barely ran at 30fps and looked like absolute garbage on PS2 versus 360, let's not even pretend this is a new thing.
It just annoys me that a lot of you folks don't seem to understand how development in these sorts of situations works. Oh yes, because beenox obviously has the full capability to make a game look like the previous gen native titles, they are just bad, or were told not to do so by Activision! Tinfoil hats glued on a bit too tight.