MW3's campaign looks like its supposed to be good, if that's single-player footage. The best part about the series and cutscene effects is where they treat the player character like you are there, with nifty camera tricks. This helps you "get into their mind" so speaking and I think this is the reason why the campaigns have turned out so good and people still buy the games.
I mean, who doesn't want to blow up helicopters, dive below a flying, exploded car and be saved from the brink of death by a fellow ally?
(Plus this game doesn't look like it has so much emphasis on gore, which is good...)