The graphics are better than WC3's, but they do look similar to the artistic cartoony style of WC3. I've got graphics on it at max and it looks good. I still cannot figure out why it took so long to be released. It honestly looks like WC3, with higher resolution models. I've heard many complaints about it feeling too zoomed in, but I didn't get that feeling personally.
For me, this game is going to be one that I opt to not purchase. And, if I ever do decide to it will most likely not be for the gameplay, but more so for checking out the new Battle.net stuff.