i wouldnt go so far as to say next gen, looks like it could be thrown right into a current source engine game, but who knows maybe im just spoiled on the unreal engine character models you see everywhere nowadays (gears2 /drools).
looks like solid snake sure enough though, i think you could tone down the eye bags however, I know snake was a heavy smoker but you got him looking like my grandfather =P.
yeah i've been getting a lot of the eyebags thing, so i've been working on the high poly to tone that down, i'll update shortly.
muff is working on a rig for him that'll include facial animations, so i'll be putting him into crysis shortly after that.
as for the next gen thing nuttzy, marmoset has a way of dumbing down certain maps to make things look smoother. unreal has a way of making things look ultra sharp, and i LOVE that. in fact the project muff, skiwan and i are working on will be using unreal engine 3. but i don't think it works too well for snake... that said, i'll throw him in there just to show you the difference (believe me, it's actually very noticeable).
As Gir pointed out earlier, i've been tinkering around with Vsyncs and facial rigging, since i had a whole bunch of ideas for efficient solutions but never had time to come up with one that'd function in most recent games.
Anyway, heres the 800-frame result of that rig test!