The graphics in the new version are very impressive, at ground level on par with some FPS games I have. I can recall when the general consensus among the gaming "experts" was that strategy/tactical games would never be this good graphically, and we would all have to settle for rough graphics or abstracts forever.
But where I really tip my hat to the graphics dept. is the zooming. It's an aspect that is easy to miss as a viewer (unless they get it wrong, then it is very noticeable), but when I watched the AAR videos, I noticed that there is a near infinite zoom scale, without the graphics degrading at any resolution. No moire screening, no pixelation, and no shifting of the terrain tiles that I could see. That is a very difficult thing to achieve, and I have seen game companies with much larger budgets and staff drop the ball on that consistently, on static art. And don't forget that all the terrain has to be modular to allow for map making by the end user while doing this. Then add in animated objects meeting the same requirements while in motion.
I am sure the modding community will improve the few things that aren't sparkly enough to suit them, like the bomb blast effects and such, but I'd say we have been given one heck of a good game to start with. (Not a knock on anyone's comments, just an observation) Speaking of modding, I also give credit to the company for allowing the art to be modded, I have seen discussions on that, and the game isn't even out yet. They have enough confidence in the product to open it up to the player base, and we all win.