So you haven't played MW2 or Black ops so yeah, not much of a valid opinion then really. Atleast base it on fact instead of assumption.
I've played them all (I own all of the recent titles on both the PC and the 360) because I'm an FPS junkie, and I have to say that the COD titles, from a creative perspective, are quite possibly the worst thing to have happened to the FPS genre.
Don't get me wrong, COD 4 was good, but I remember a time when skill at arms, teamwork and initiative were far more important than perks, builds, prestige and killstreaks. The latter having invaded most multiplayer FPS games these days. One only has to look at the likes of Homefront, etc to see the attack of the clones. There's no need to drive the genre forward, because the COD formula sells millions.
It has been mentioned by some that those of us who fondly remember the originals are looking at it through rose tinted spectacles, and that they contained equal quantities of ridiculousness. That simply isn't true. I don't remember driving around Sainte-Mère-Église with a remote control car bomb, I don't remember killing Hitler in slow motion with a ballistic knife. If COD were given a "Modern Warfare" makeover, this type of stuff would no doubt be in there.
The originals were obviously as action packed as the new ones, but they had one thing that the current games lack. Pacing! Without pacing, deadly machine gun fire isn't deadly machine gun fire, it's just "noise". In terms of multiplayer, each side had appropriate loadouts and classes: German infantrymen with K98ks, MP40s, etc. MW multiplayer is full of stupid immersion breaking crap like US Rangers with akimbo shotguns, Spetznatz teams manned entirely with 100 meter dash world record holders, who happen to have really long arms, etc.
I'm not saying that there's no place for a ridiculous, bombastic gaming experience, but there are those of us who buy COD every year simply because there is no middle ground between cheesy, ridiculous, over-the top nonsense and something like ARMA.
Of course I doubt we'll see any variation in the status quo, since, like the Sims, the masses eat this **** up.