Stellar presentation, realistic storytelling, and balanced gameplay make this one of the best out there. Amazing.
The graphics are amazing (considering the age), the story is immersive, and the gameplay is so balanced and smooth (even on "crushing" mode), that the game is a pleasure to play even on the third playthrough. (played the game on crushing twice to see if I could shorten the time).
Graphics are among the best on the PS3 (so far), with lush vegetation, realistic lighting and textures. Stone formations look worn out and rustic, the water renderings look very fluid and realistic (especially the giant waterfall area and the jetski portion), and transitions from dark to light and back to dark are impressive. Character modelling and animation also ranks up there with the best -- the way Nathan Drake moves and reacts in certain situations is well executed -- with many small details and quirks in animation making you feel that you're controlling a real person (if that is at all possible).
The sound effects aren't bad either. Voice-acting is top-notch, with the voices more or less matching their respective characters and none too over the top (except probably Eddy Baja). I especially like the effort put into the small side comments and one-liners of Nathan Drake, as these add to the immersion.
While not all the chapters are of the same length, the pacing of the game never feels uneven. What especially stands out to me as excellent chapters are IV, V, XII, and XX -- where the gun battles are intense and satisfying -- but not impossible to beat. What I like about this game is how it doesn't feel the same on different difficulty levels. For example, in "hard" mode the general strategy is to pick a hiding place and pick off the enemies one by one. In "crushing" mode, hiding is not an option as the enemies try to rush you -- making it extremely difficult to kill them all from one place. Running and gunning is usually a better option in certain situations (for example "Plane-wrecked" just before you find the actual wreck).
Finally, the trophy list. This is my first platinum, and I must say it was an enjoyable effort to say the least. I hope the other trophy games are as immersive as this one (crossing my fingers because I hear that this is among the better trophy games out there). The trophies don't feel forced or extremely difficult -- but you will really have to pour a little time and effort into if you really want the platinum. Instead, each trophy is challenging enough to warrant trial and error -- with the difficulty "JUST RIGHT" so much so that when you do finally get the trophy, you actually feel rewarded for the effort.
All in all, my favorite game so far -- looking forward to Uncharted 2: Among Thieves. Thank you Naughty Dog!