All you people who canceled the preorder, did you buy this game purely for those graphics...
I actually cancelled my pre-order after watching some of those initial videos. My thinking was that, if CDPR was not going to invest fully in the PC platform then I was not going to invest my money fully, but would rather wait for a bargain price down the road. It was a bit of an emotional response born out of some frustration and historically driven prejudice against dumbing down PC games because of console porting.
About 2 hours before release I ended up pre-ordering again. I tried to clear my head of all the before and after comparison controversy, simply looked at the game with day one patches, and decided whether it was worth the money. That put it in better perspective and was a rather easy decision at that point. Had the original videos been shown with this graphical fidelity it has now, I would have pre-bought then, so not to do so now would amount to protesting against not get something that could have been better, and that's a rough way to live.
A couple of reflections with respect to TW2 vs TW3 graphics. I always thought TW2 took better screenshots than it actually played, and I think TW3 plays better than it takes screenshots. The intense bloom and specular maps from TW2 gave an immediate pop to it, but I did find it difficult to play with and get right at times. While TW3 has a bit of a theme park look to it in places, it's probably better for an open world experience. Not in all ways, as I think TW2 vegetation was indeed better in places, and the water in TW3 is rather lackluster.
tl;dr - There is definitely some room for improvement on PC but it's quite respectable and fits the gameplay. A few mods and tweaks here and there will make it really top notch.