The PS4 is a very powerful system with a huge amount of potential. By focusing strictly on a gaming console, Sony got the upper-hand out of the gate. However, the lack of a "killer" exclusive game is holding it back from total domination over the competition. There has been an acceptable rate of failure, mine included, and the turn around time on the repair has been longer than I would like. Still, it has the edge over the ONE, and certainly over the Wii U.
1) Features—Runs at 1080 full HD, excellent controller that will hopefully make more extensive use of the touch feature, If PS+ lives up to the expectations from PS3 and Vita it will be an AMAZING value.
2) Setup—Very easy to set up and connect to your WIFI or using wired connection. Includes only an HDMI cable, so if you need component you will have to buy them.
3) User Interface—Great controller, but after holding the XBOX ONE controller, it feels a little too small for my hands. The START and OPTION buttons are a little too recessed next to the touch plate, and the controller sticks feel a little cheap. The ONE gets the nod here.
4) Performance—The games start up amazingly fast and they look amazing. NBA 2K14 looks like watching a game on TNT. Killzone runs beautifully, and Battlefield 4 (for all it's faults) looks amazing. The free PS+ games have been worth the membership price already, and there is a whole year of them to come. Battery life on the controller is a little low, and the included headset is flat-out terrible. Pick up a Turtle Beach X31 at Best Buy if you don't want to drop the $100 on the Gold set. The system is having a high defect rate of about 5% so it can be a little risky. My system has been out for over a week with no progress shown, and little empathy shown by Sony when I contacted them, so buyer beware.
I own a PS4, an XBOX ONE and a Wii U. I have no doubt that the PS4 is going to win this round of the console wars, it is just a matter of by how much.