If you'd been keeping on eye on TimeShift early on, you'd know it had a unique steam-punk visual style. That's all gone now, and has been replaced with a more generic post apocalyptic setting. This isn't necessarily a bad thing since the extra development time has seriously boosted the graphics engine.
The environment is grey but it's highly destructible and the rain effects are fantastic. If you pause time you can actually see individual droplets hanging in the air. Time control is the big draw here.