Heh, yeah. It's a shame it'll end up looking dated by the time it finally comes out, though I have hopes that it does. I was holding out for it for the longest time, but ended up getting bored and playing through HL:S recently. Bah.
Well Valve's games have never really been at the cutting edge of graphical prowess, so it shouldn't be too off. Unless it takes so long that Valve develops a whole new engine before they finish it, but hopefully they'd switch over to that. Or maybe we'll just have to wait for another mod team to do that