After watching the Q&A I got the impression that killstreaks weren't something that splashed flashing text on your screen, rather something that subtly increased your XP gain. That's an understandable reward considering the player did something special either by luck or by skill. I'm not a fan of quick-knifing though, especially if people are opting to rush you in close/medium combat rather than use cover effectively while shooting.
I don't know if this makes much sense, but PS1 to me seemed like an MMO (for lack of a better word) reworked into an FPS. PS2 is looking to be a modern FPS worked into an MMO. Obviously with PS2 we'll be seeing more shooter conventions, but whether that's a good or bad thing I have no idea.
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