The greatest machinima ever made? Almost certainly.
The most insane production values ever found in a game? Ridiculously so.
The biggest gaming event of the year? Yes.
A great game? The best Metal Gear has ever been.
Sure we can complain about the gameplay to cutscene ratio or any number of other nitpicks, but in the end MGS4 is the epic send off Metal Gear Fans have been looking for. Congratulations Hideo.