Yeah, they did say the generational leap wouldn't be a s obvious as last time around. GTAV was a great game visually anyway, so it's just the resolution that should have improved. I said at the time that was my only gripe about the game and the quality of the draw distance. If they've both improved, with first person mode added I will be very happy when I pick it up.
Are you playing it in FP mode mate? What's the resolution like at distance? All the videos I've seen are markedly better, but they've all been on a small phone screen.
FC4 on the other hand is miles better looking than FC3, but then it didn't have too much to look up to. FC3 was proper choppy in comparison on console.