Throughout the trailer we see America, England, Paris, and Germany under attack - the four locations shown in the original teaser trailers. In London, an underground carriage is shown derailing and tumbling through the air.
The end of the trailer features Makarov (he of 'No Russian' fame) talking about his plans for further nasty business and the words WW3 turning into the MW3 logo. We counted at least five explosions.
Graphically Modern Warfare 3 is looking very cool and sharp and the destructible environments impressive (such as the collapsing building, and the ship that gets rocketed in the boat sequence at the end).