Asura's Wrath, 100%.
I liked Uncharted 2 a lot, but I can't deny Amir0x's got very good points. Unfortunately UC3 only took these flaws and made them even worse, and it was too much for me then. Very disappointing. Haven't played The Last of Us yet but I hear it's a total 180 from that kind of game, so I'm hopeful.
Came here to post this. And Indigo Prophecy.
I'll add God of War 2 to that list (GoW3 seems even worse). The first one was an above average button-smashing hack-and-slash action game (though I still hated the QTEs), but it became so obnoxious and insufferable. Worse, it set the tone for that kind of action games. Barf. And I agree with those saying Ryse, if the trailer is anything to go by. Ugh and double-ugh. Same with everything Quantic Dream's ever done.
Oh, adding Xenoblade Chronicles to that list too. Most disappointing game of 2012 for me. Shitty boring side-quests, collect-a-thons, awful auto-battle system with stupid AI party members, a stupid and useless crafting system, annoying voices you can't turn off, flat and boring characters, slow and clunky menus, gah. Can't bring myself to keep playing it.