Graphics do not enhance the gameplay, but they do enhance the experience :V

Graphics are immensely important, but its not about how shiny they are, its about how fitting they are to the experience and creating the right atmosphere. Look at things like Half-Minute Hero, deliberately retro in its apperance, and oh so fitting.
But as I said before, I care more for 2d sprite work than current gen brown graphics.
Odin Sphere and Muramasa are the pinnacle of game graphics :V