Rockstar never show trailers of gameplay until much, much, much closer to launch. They're notorious for giving very little information before launch.

Graphics wise, OK, yeah, maybe it does have the same standard of graphics assome of the later PS2 games. But other than that it really is next-gen - the water effects, the pedestrians (finally they all look to be different, and there are lots more), the lighting, they've even gone as far as to put quaint little things in such as steam rising from air con units, and the guy in the sports car could be seen adjusting his rear-view mirror.