Look at the renders for the spiders, werewolves, and goblins (I guess?) here. They look spectacular. I am sure they will look just as good when they place them into fully CGI videos for the game. But then look at the shots of Gabriel Belmont in action. They look like the need a bit more polish before the game goes fully gold, which of course Kojima Productions still has the time to do. For example, look at the lack of detail on Gabriel in contrast to the world and other creatures of the game - even in the "In Game" shots.
In the end though, at least there has been work on the game and here's the proof. Castlevania: Lords of Shadow is slated to be out some time this year, so hopefully we will get more than just screen shots soon. Maybe after GDC 2010? We can only hope.