I dislike the excessive colour, bloom and such that thrive in many recent RPG's. I take more to games like the Witcher and Gothic II, that gives us a gritty medieval look. That doesn't only depend on the colour of the game, but also the graphic design and environment concept. While I think WoW is not an extreme of either of the two, I concede that WoW is, by design, not to be realistically medieval. It's supposed to be a colourful world, and it does what it wants to do; while not being everyone's style, it's definitely most agreeable.
That having been said, from the screenshots we can see that ED tries to give a gritty medieval, plausible feel, without being too skimpy on the colouring.
