Hmm, The FMV quality from a blu ray disc HAS to be better than that from a DVD, isn't ?? In the same way as the video quality from a DVD is much better than a CD one .. I really wanted to see the difference between ingame graphics to make a better judgement.
Those are mostly in-games because the models are different as well.
And no, video quality should be the same if it's the same source and same transfer speed. I mean... HD trailer on CD, or DVD or Blu-ray or even on a flash drive makes... no difference. It's the same clip. Same quality.
Anyway, I noticed that the drastic difference is... shaders. The sshot that has less polys and lower-res textures have excessive uses of shaders, which makes me believe that that is rather the difference between the GPUs of the 360 and the PS3. PS3 might be using Cell BE to handle poly transformations, thus the significantly higher count of polygons, whereas 360 might just be using the GPU, and the poly count has to be reduced to not tax the GPU too much. Well, wild guesses, but... if not that, I really can't see a point to creating all those high-poly models and high-res textures just to promote a trailer then discard them and use low-poly models in the final product.
And that aside, Blu-Ray is fast enough. Kojima just had this idea where he doesn't want his gamers to sit in front of the TV for too long, and he wants you to "realistically" take a break between each chapter. So that whole thing made it seem like Blu-Ray was too slow to access, but that might not be the case. Other games have read from only Blu-Ray, and have successfully pulled it off nicely. Whether it's slow or not at this stage, is debatable IMO because it's on par with a 8x DVD, and PS2 had a slower DVD drive IIRC.