I personally think it looks ugly BUT I dont let graphics stop me from playing a good game. I still have fun playing some games on my SNES/NES emulator lol.
Currently, I would say that unless I have told my friends on Live about BB none of them have any idea what it is. Heck, my brother's fiance thought it was a wrestling game(spin off of face breaker boxing game or something) and she has worked at game stop for 2+ years.
Advertising needs to start now and what better time to start then during the football season. Have it show up on national TV for Monday night or during the play offs because that will hit your target audience the best.
I did see a very brief article in the PlayStation magazine that had a run down saying BB is putting all its eggs into one basket with its physic engine and is looking to get fans who care less about the NFL teams and more about the actual game play...But that small of a bite will not get you anywhere for sales on release date.
They could spend the 2+ million to get a single 30 second ad done during the super bowl but that seems a little too steep for just one spot. In all honesty, how easy would it be for a large portion of the 90 million people that watch the super to miss that one ad.
Then again this is all riding on the fact of if they release the game in April or not. If I was going to do it, I would look to get ads all during the playoffs(basically most of January) and release the game early-mid February. That way you will hit your target population hard and release the game while it is still fresh in their minds.(Then again there are people that dont play football games after the season ends but that is from the madden standpoint again. It is a very complex decision because it is not an easy product to sell.)