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The quality of some textures are of a 2003-2004 standard, which is ridiculous for a 2011 game.
Right? That cow's(?) texture looks no better than a bear from Morrowind's Blood Moon EP. Come to think of it, the animals I saw (mammoths, wolves, horses & wabbits) in various pre-release shots looked pretty bad, too. I just assumed they were from an early version of the game.
Maybe it's not as bad as it appears? Could be compression on the pics in the link. Could be some mixup or missing files from Steam. Maybe a hardware/software issue. I find it hard to believe that gamesas would release such a low quality graphics game for PC.