In terms of realisticness in terms of how it plays, yes, though any war game could be considered realistic in that sense.
In terms of graphics, its okay, but in terms of physics, it doesn't have any generated by the CPU, using a physics system.
Games for me to be realistic today, have to at least have a good physics system (Half Life 2, F.E.A.R are great examples of this). This allows for better A.I, better particle bounces, and all that type of stuff. Expect this to get even better in next generation consoles when a whole core of a CPU could be used for A.I and physics on its own.
Then theres the graphics of course, though this isn't usually what amazes me (as it starts to get old as more games use the engine), though in F.E.A.R, I was pretty amazed
They are also not exactly what makes them more realistic, as the physics carry that out mainly.