The most disappointing isn’t exactly the worst. These games tend to be over-hyped and turn out just mediocre when they were claimed to be something amazing by developers.
Disney Epic Mickey
With a game that was supposed to be so amazing, and well, epic this game really was like a punch in the gut. With a bad camera, muddy textures, and poor combat and controls, Epic Mickey should have come out next spring with more polish. This just goes to show that a superb idea can fall flat.
Runner-Ups
Disciples III: Renaissance
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APB: All Points Bulletin
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Final Fantasy XIV Online
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Alpha Protocol
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I'm in North America, I'm just not super familiar with the series.