Considering the delays and the game stripped of various components, this has become: underwhelming, considering the hype
Sure the game has its moments, its relatively fast paced and even frantic at times with the flying and vehicles, however we're been there and done that with similar games such as Battlefield series, and in all sense and purposes: Battlefield 2 is far better than this game, due to its immense depth and allotment of tactical and strategic components. So in a sense Warhawk seems like a pale comparison to Battlefield 2. In addition to this, the graphics in this game isn't "spectacular" per say, considering Battlefield 2 is several "years" old and is still able to look better than this at high res (and maxed out options), I'll have to say even on that department Warhawk falls through. In terms of sound... the game does well enough with what's available to it, but needless to say, nothing puts the fear of god into you like the squealing sound of incoming artillery strike in BF2.
The game is better than say Star Wars Battlefront, but really doesn't make an effort to be more, the addition of voice chat is a nice touch, but quite frankly most of today's FPSs and even MMORPGs (WoW will be getting theirs soon) have it built in. Another thing I would have liked is the ability to have "first player" view (whether or not they put it in later is a non-issue) since the stupid square box type of targeting is by no means accurate. The use of a form of crappy auto aim to get the job done is, quite frankly demeaning for some hardcore players.
All I can say is, this is a good attempt by Incognito and SCEA to bring some interesting multiplayer action onto the PS3, but quite frankly it falls short of what they need to get the 1up on the X360. Lets just hope MGS4 and Final Fantasy 13 are actually able to deliver.