Another PS4 review:
http://arstechnica.com/gaming/2013/11/playstation-4-hardware-review-off-to-a-mixed-start/
The good
Beautiful, unique case design
Relatively quiet operating noise
Lighting, smoke effects, and character models look great
DualShock 4 controller is one of the best we've ever used
Stream game audio to any headset through the controller
What's New section provides a look at friends' activities
Automatic download of system and game updates
Great new PlayStation Store interface
Streaming gameplay online is easy and addictive
Local Vita Remote play works surprisingly well
The bad
Relatively high power consumption
Leap in graphics doesn't provide the "wow factor" of previous generational jumps
Controller only gets about 7 hours of battery life
Flat system interface gets cluttered and hard to use
Limited editing and upload options for gameplay clips
Music Unlimited is clunky, and the only way to get outside music
The ugly
Camera-based voice commands are practically useless
iOS PlayStation App seems of limited use
Bluetooth headsets don't work, for some reason
The Verdict: Wait for the Xbox One review to compare and contrast.