Not sure about the Playstation 4 but the xBox Next/720 or Whatever-it-is-called is going to be based on off-the-shelf PC components. Only a few top video cards can play games at 4k, so the resolution for gaming will probably still be 1920 x 1080, which is what the majority of console gamers will hook it up to now and in the next three years.
I was thinking that MicroSoft would use the Intel Haswell but it looks like they are using a custom AMD Jaguar paired with an AMD HD 8000M GPU, just like Sony. If you are familiar with Intel Atom, the Haswell AND Jaguar are extensions of that low-power concept. Haswell and Jaguar are being aimed at the server market. If this rumor is true, then BOTH consoles aren't being designed for speed, but for power efficiency. The GPU will probably be on-die since that is the basic design of Jaguar and will have everything in one package. Rumors have the GPU being from 64 cores to 640 cores. A 64-core Mars isn't really that much faster than the old R500 ( x1800/x1900 ) with 48 cores @ 500 MHz in the xBox 360. The 640 core chip would be minimum 6 times faster but it is based on the current HD 7800M series, not the new HD 8000 series. Just to put things into perspective, desktop nVidia GPUs have 1536 cores and AMDs have 2048 cores. These two can push 4k video but they draw over 300 watts just by themselves.
HD-DVD = 94
Blu-Ray = 120 ( 24 Warner red2blu )