I enjoy the single-player portions of the MW games. However, they're spawning a ton of watered down clones (Homefront, Battlefield 3, Bad Company, Medal Of Honor, Sniper: Ghost Warrior) that lack the polish and adrenaline, and when you remove those aspects you basically just have a very repetitive, mindless game. There's a reason the campaigns are about 5 hours - any more and you'd want to self-harm.
That said, I feel like there are plenty of kickass big-budget games around. Recently, we've had The Witcher 2, Deus Ex: Human Revolution, Starcraft 2, Arkham Asylum and the Mass Effect and Dragon Age games. In the near future we're looking at Skyrim, Arkham City (or is that out now? I know it leaked), Max Payne 3, Hitman: Absolution, and Diablo 3, as well as Mass Effect 3 and some others I'm sure I'm forgetting. The Assassin's Creed games are also decent, and Saint's Row 3 looks fucking awesome.
And not a single one of those is a 5-hour ironsights-and-chest-high-walls based Xenophobic Murder Simulator, which is my new name for this genre of gun-wanks about how the Russians/A-rabs/assorted furreners are going to DETONATE A NUKE BOOMINYOURFACESHITJUSTGOTCRAZY.