Here is an example of how the aiming system was:
YouTube - MGO TDM in Brown Town
In the MGO for PS3 you'll be able to hack, shoot out enemies radios, knock out enemies, plant boobie traps(porno mags included),etc. and you keep *****ing about 3rd Person but you can play the whole thing in 1st now.
EDIT: Oh, I almost forgot the 70+ attachment possibilities, the amazing graphics, the mic AND keyboard support, and the hostage taking. I guess it sucks ass.