X1 has more value vs lower price for PS4
If you buy a PS4, plus camera, plus the motion controller wand/nunchuk, plus their universal remote, it runs you about $580-600 assuming their universal remote this gen is same as on PS3.
This is all of the standard hardware Sony provides for their Playstation. If you do this, you have a motion controller setup that is less capable, no windows apps and less in general, no HDMI pass through, no WiFi direct, and a universal remote that does not tag all devices at once (ir blaster), and you spend more. Now you don't "need" all of the periphreals, I'm just saying what they cost if you buy them all.
So if you "want it all" the Xbox One provides a bundle with much more value at a lower price. But if all you want to do is play games and watch netflix, and pretty much nothing else of note, then the PS4 can be had for $400 while X1 you have to spend $500. Sony could announce more features later.
Games: Sony will again have more breadth and quality with single player experiences. Xbox One will again be the better online multiplayer console. In fact, the gap in multiplayer is getting wider because X1 has dedicated servers (absolutely huge and can't believe this doesn't get more coverage) and also cloud computing to add AI and more detail to online worlds. Sony devs can only do this if they provide their own servers and software. In addition, Microsoft has announced 3 brand new IP's, in addition to gears/halo, that are online multiplayer focused while Sony only has Killzone right now for online shooter exclusive. So for games it is what you are into.
Potential: Sony has claimed the potential for better graphics, for the third generation in a row. Maybe this time it will be true, but I feel that if I am to believe in this they have to prove it with gameplays and they haven't done this and likely won't before launch. Too many devs calling the systems equal. Sony also promises backwards compatibility through game streaming, but not at launch. I think they are keeping this out of launch becasue they don't want people to see the controller lag involved with game streaming because that is sure to piss off some people who thought it was the same as backwards compatible.
MS has claimed potential of the cloud and kinect without proving it. Cloud is pretty obvious, as well as dedicated servers, and Titanfall was a good example. But I'd like to see a massive online world that is clearly impossible with a console hosted cloud-free system like what PS4 offers. We have yet to see this. The Kinect is crazy impressive. My god the wired.com exclusive made my jaw drop. But they haven't yet proven that impressive tech equals fun gaming. Potential is there, but we need to see it.
Honestly there are only 3 reasons I can see for a PS4
"cheaper"
potential for better graphics if you trust them again and are not again let down on that promise
better PR personel, it is the "trendy" pick, follow the herd
For X1 dedicated servers pretty much is massive and impossible to ignore. Kinect looks cool but I'd like to see them prove it is worth more than a noise cancelling mic to control my entertainment center with. The universal remote and hdmi passthrough stuff I'd honestly spend $200 just to have all that in one device.
I'm in the boat that X1 is something I'm sold on at launch and Sony has me pretty close to sold on their device as well.