I forgot the source but its been announced that GTA IV will use RAGE, Rockstar Advanced Graphics Engine or something, used in tabletennis.
So it will be something like
http://someta.net/wp-content/uploads/2006/03/rockstar-tabletennis.jpg
http://www.nekofever.com/images/tabletennis.jpg
so all of you who want GTA to have bad graphics because of its style, tough **** :p

holly crap if those are really the graphics...then those are insane and i cant wait to see what the rest will look like

www.rockstargames.com look under Rockstar Tabletennis