Indeed. That could make an interesting game. You only see your character through security cameras, and when gaurds get close enough, you see yourself through their eyes. I think it could be a novel concept if done correctly.
Also, in response to earlier remarks. True GOW is a 3rd person shooter, but so is most of RS:Vegas. Whenever you take cover behind something (Which is about 95% of the time) the game switches to 3rd Person. I just love the tactical aspects of the RS series, and how teamwork is vital to survival. Besides, do you get Fiber Optic Cameras to peek under door with in GOW? Or, how about IR and Night Vision googles? Can you fast rope? Can you repel down a line upside down with your sidearm drawn?
Don't get me wrong GOW looks great. I haven't played it yet, because I am in the opposite spot most people are. I'm too hooked to RS:V to play GOW yet. That, and well I have to get a X360 first, or go over to my buddy's house to play it. I play RS:V on my pc because I am a "loser with nothing to spend money on except computer parts."