The only way to do a Morality system right is a system of Choices and Consequences. That's what it really boils down to in the real world. Our Values just effect the choices we make, and they ultimately turn to consequences. And I agree with the Deus Ex comment.
Problem is the PS3 is sooo graphically superior that the developers have to spend more time and money to live up to the graphic expectations. With that there are less number of games which is ps3's main issue at the moment.
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