Sadly, it's visuals have been somewhat undermined by a slew of other Playstation content. Uncharted 2 took the baton that Killzone set, and now God Of War III has run away with it. But Guerrilla don't seem phased by the internal battle for Playstation 3 exclusive visual quality. Nuh-uh. They want to do more.
Speaking to EDGE (via TSA), the sharp folks noted:
Were satisfied that we demonstrated the potential of the hardware, he said.
But we realise that further optimisations are always possible and that we havent hit the limit yet.</blockquote>
Killzone 3 is rumoured to support the Playstation Move aswell as 3D functionality. It's yet to see formal release though, and will likely get that treatment at E3. Exciting times for the Guerrilla folks.