Well , COD4 has better graphics but it came out later , GOW came out in the first year launch of the Xbox if I'm correct , therefore if both games were realeased the same time , that would make it easier to tell which one has better graphics
Yea GoW2 is coming out, but if you've seen the official video about it, the graphics are exactly the same as GoW. But they added few maps, missions, weapons, and some other stuff (sorry, I dont remember everything :P)