It would adjust itself according to your movement and your opponent's movement so you knew where to aim your weapons to get a better chance at hitting your desired target.
The thing I miss is being able to just press the right-mouse button to cycle to the next weapon group. You only had one reticule and it would automatically adjust to whatever weapon you currently had selected. So if a target was in range it would turn green and if it was too far away it'd turn another color (at least I think that's how it worked.. been a while since I last played MW3.)
If you had weapons on your arms, they'd lock to your reticule whether you were on freelook or locked to your hud. One arm wouldn't cross over too far in front of you so you couldn't shoot your other arm off/damage yourself. If you were just using torso weapons the arms would disengage until you had a weapon mounted in one of the arms selected.
Found this video which shows in MW3 when you were walking/running the pov would bounce a bit.
More movement examples from MW3
Off topic: The missiles.. I noticed watching a few MWO videos the missiles automatically arc upward over the terrain to reach the target where in MW3 you had to adjust your aim to avoid having your missiles slam into the terrain.
Edited by RazorbeastFXK3, 04 November 2013 - 02:17 PM.