I saw the PS2 Bully again for the first time in about 7 months (when I last beat it) yesterday on Cheat. My first thought was 'my standards for acceptable must have gone up recently, this hasn't aged well'.
I then looked up the 360 shots again.
Big, big difference. Saying they still look like the PS2 version only works if you're strictly talking about design. The visuals are far better now.