Most overrated Game of this year was Doom 3 by FAR. Totally overhyped, made your hardware buckle, that was about it. Eye candy to the extreme.
That being said, FPS games are now about online competition. Playing over broadband ala xboxe live with halo 2 has already been very popular for games like Quake 3, counter-strike, unreal tournament, etc. "E-Sports" is a rapidly growing area of gaming. Don't believe me?
www.gotfrag.com
www.thecpl.com
That's where FPS games are headed.