Agreed. As out-dated as the graphics are, I'd like to see the entire trilogy "look" the same.
I might be in the minority, but I was looking forward to KOTOR2 because of the story and the continuing KOTOR-saga, not because I was drooling over major graphics changes. So the same graphics (slight tweaking) are fine by me, and then once the trilogy is done (Come on, it's Star Wars. It HAS to be a trilogy), they can move on and launch the new series - whether it still be under the KOTOR banner, or a new title - on the nextbox with a new engine.