I say Bioshock infinite. Not because of the hype or graphics yada yada. Its more the interaction between the two main characters. I want to see if they can pull it off and make it interesting. I have the utmost respect for what Ken Levine's team does with games and he always has something cool to show me.
Mass Effect 3 doesn't rate on this list for me because of how dumbed down ME2 was and how poorly DA2 was treated. I am going into that game with the mentality they got something to prove if they want to be considered one of the top developers on my personal list.
I saw the Bioshock Infinite trailer and I wasn't impressed. I am looking forward to Gears of War 3, Dark Souls (X360), Elder Scrolls V Skyrim, and Resident Evil Operation Raccoon City, but they're all scheduled for the Fall (Sept to Dec) of this year. So, hands down, Mass Effect 3 releasing in March is my most anticipated game for 2012.
Wait a second, do you mean our Most Anticipated Game of 2011? 2012 is a year off, so I don't know what games will be coming out then. Probably Black Ops 2 for 2012. LOL
For 2011, I'm pretty excited about Modern Warfare 3. I'm pretty excited to see whether it's going to turn out well or not. Mass Effect 3 is pretty high on my list aswell. ME2 was so great. Then probably Uncharted 3. Those 3 games (All of which have 3 in their title for some reason) are my Most Anticipated Games of 2011 ;)
So far with what we know is supposed to come out in 2012, I'm most looking forward to Mass Effect 3 and Halo 4. I'm just trying not to think too much about them yet, we've got alot coming up in 2011 yet! :o)
Mass Effect 3. I need to know how it ends. And then find the way to get the exact opposite ending like in ME2 where I got everyone killed after saving them all. (Wonder how that import would play out...)