Yea the wobble/sight movement gets annoying. If you try to flank them more, you get so close to them when you fire, that the wobble isnt a big deal. Will rent it to at least check it out.
The simple fact that the enemy can react and counter-flank your position and maneuvers is AWESOME. The PS2 demo for this got interesting when they started reacting to my movements. My complaint isnt so much the sights...it was that your team likes to wander alot from where you ORDER them to go...
I played the first one solo pretty much. My team would die fast, because they wouldnt take cover fast enough, ect. So I just would pick them all off one by one. The longer you stand still, the wobble will go away, and THEN it feels cool to pick them off. Headshots were shown with a nice bloody mist...
YMMV, but I think it has serious potential...just being held back by teammate AI flaws, ect.