Crysis doesn't look 2x better and at least on my system it doesn't take 2x the resources. I can run Far cry 2 maxed at 1680x1050 and I can run Crysis warhead at gamer settings with 2x AA.
In completely subjective terms, I think at these settings the games have comparable graphics. Can crysis be optimized more? Sure it can! Everything can be optimized more. One of my favorite examples of code optimization is the Atari demo scene of the late 80's early 90's. By the end of the demo scene performance had increased 50% on hardware that was mostly static. That means in that time a calculation that once took 1 minute took closer to one second, on the same hardware. Of course they had about 10 years to hone their skills and get to know the platform. There is a point when it becomes financially impractical to optimize code more and it is cheaper to throw hardware at the problem. Also i think you we need to look at Crytek's past. When Far Cry came out its graphics were a major step too. It had a huge draw distance, 3d vegetation, and great water (for the time). Crytek's thing is to always push the graphics envelope. Crysis was just another more extreme application of those ideals. It could be optimized more, but when you think of the 15 million dollars they already sunk in it I really don't think you can ask more from them.
As for Xplay, everyone on G4 is a tool. They try to cater to the Spike TV crowd and in doing so they alienate their gamer viewer base. I preferred it when it was tech TV, at least they had some decent shows then. I have direcTV and some time ago they dropped G4 from their default channel listing, so I don't have it anymore. Aside form Ninja Warrior I don't miss it.
And I think Crysis does deserve a 3/5. It is a solid fps, for that it should get a 3/5 which is an average score, they could get a 4/5 for the graphics innovation. They did something most games don't do, innovate. Call of Duty doesn't do that and it gets great reviews. We can't bash Crysis now because it was over hyped. It accomplished its goals and for that we should consider ti a success.