The modern methods I see today…
CoD/Battlefield style: Dedicated FPS arms+weapon rendered only by the player. Some sort of First Person full body model to cast its own shadows and body recognition.
+seems to have the most control in terms of aiming
+capable of using procedural or physics based sway and recoil effects
-requires the most art and animations
True FPS Camera (Arma, Crysis):
+seems to require the least amount of art/animations
-least flexibility in terms of aiming (must move camera to an aim socket or tweak the animation for every weapon perfectly)
-the best position visually for the weapon may not be the best position visually for the First person view
-difficulties with avoiding clipping while showing the desired amount of FPS Weapon on screen.
Why do modern games still use the CoD/Battlefield style when True FPS Camera is a possibility? Which method would be easier to work with for a small team?