"We're not talking about the multiplayer," says a Treyarch representative at the end of our first look at Call Of Duty: Black Ops at E3. "At least, not yet."

Fair enough. Developers like to demonstrate their games to the media in stages, and despite the scheduled November release date for Treyarch's latest outing with the COD brand, it's early days yet. Still, the presence of Infinity Ward's Modern Warfare 2 entry in the franchise looms large in the background of Treyarch's demo – and not just because of the recent legal spat which erupted after Activision's fired of some of the developer's key personnel earlier this year. With sales of $1bn, Call Of Duty is more of a marquee title for Activision than ever before and one of the main reasons for this was Modern Warfare 2's multiplayer mode, which still keep hundreds of thousands of gamers up until the wee hours of the morning, nearly eight months after its 2009 release. Infinity Ward is certainly still a going concern, and while no one expects Treyarch to simply clone the Modern Warfare 2 gaming experience, the expectations of the COD faithful are enormous. This lot want a lot of bang for their buck.

This may be why the two levels demonstrated in the preview of Call Of Duty: Black Ops make the game seem like different sections in an interactive Michael Bay movie. Treyarch's shooter is a high-octane, action packed experience; gunshots crack, grenades explode, windows shatter and enemies flail about as virtual bullets tear straight through them. The layout of the levels I was shown have titles which ooze military machismo – WMD and Payback – and have a similar loud/soft dynamic in their design. Both begin with brief, quiet preludes and then explode into furious battles which, in the case of WMD involve multiple shoot-outs, and in Payback sees the player destroying enemy bases and vehicles along a river in a helicopter gunship. If WMD and Payback are indicative of what fans can expect for the remainder of the game's campaign, then they're in for a delicious digital theatre of war.

Treyarch have also shifted the time frame for their latest COD shooter. While the developer's previous outings with the franchise were set in World War II, the plot for the campaign in Black Ops takes place over several years during the Cold War. The story follows the exploits of several covert operatives taking part in deniable operations for the US government around the globe; WMD and Payback are set in Russia and Cambodia respectively. The trailer shown to the audience at Microsft's E3 briefing hinted at a deeper storyline than in previous COD titles from Treyarch, and betrayal seems to be the storyline's overriding theme. Of course, a compelling story is all well and good, but unless a game has solid action to back it up, it amounts to very little. Luckily, Treyarch deliver in the action department and then some.

WMD kicks off with the player taking control of a SR71 Blackbird spy plane over Russia (at an undetermined stage in the game's timeline) and directing a team of soldiers from the air. The action then quickly skips to the soldiers on the snow-covered ground who use stealth and silent weapons – such as a crossbow – to make their way to the top of a cliff face. They then rapel down the side of a Russian relay station that's built into the side of a mountain. There's a palpable sense of tension throughout the level's early passages as the soldiers (and the player) pick off guards and secure their rapel harnesses. The audience in the E3 demo was on tenterhooks; when the level kicked up a gear with the soldiers rappelling through a window, spraying bullets into multiple targets as the action went into slow-motion, there was an overwhelming sense of release. From there, the team moves into the station, shoots their way through a vehicle depot and then takes part in a vicious gunfight in a computer lab. Then it's out the door as a distant rumbling signals an imminent and massive explosion, and the team make their escape by base-jumping off the edge of a cliff. It's absolutely fantastic to watch, even if it looks extremely linear and scripted to the hilt.

Payback, I'm told, takes place in Cambodia; two US covert soldiers have just escaped from a Viet Cong prison where they were tortured, and are out for a little revenge. After a brief surprise attack on a team of soldiers guarding a Hind helicopter gunship, the player and his ally board the aircraft, take off and wreak unholy vengeance on enemy outposts dotted along a stretch of river. Treyarch is quick to point out that the player has control of the helicopter throughout this level, which is not "on rails". It's difficult to follow the progression of the level; the player is firing so many missiles and bullets at ground targets, that at times the screen seems awash in fire, explosions and flying vehicle parts and soldiers. The fact that the volume in the E3 demo booth is cranked to 11 is another disorientating factor on the proceedings. I did, however, spot bridges and lookout towers that were soon reduced to smouldering ruins, and a couple of enemy helicopters, which didn't last too long against the Treyarch representative playing the game.

As the demo concludes and the lights come up, it takes a little time to shake the sound of explosions and gunfire out of my head. If the demo of Call Of Duty: Black Ops shows one thing, it's that Treyarch can match both Infinity Ward's knack for creating impressive action set pieces, and its visceral shooter gameplay experience. The campaign, from what I've seen, looks rock-solid. Now all we need to hear about is the game's multiplayer. Watch this space.