I think it's kind of impossible at this point but I think they are pretty huge and my opinion is quite the opposite of the general opinion on gaming forums.
Xbox One: 3 methods of inputs out of the box. Touch, speech, gesture recognition, which can all seamlessly integrate with each other thanks to Kinect. Kinect wraps around the core controller without interfering so it's an extension of traditional controls.
PS4: 1 method of input, standard controller. Also has a touchpad but still deals with touch input.
I can't really think of a bigger gap in tech than this. There was a point when the PSX had D-pads only and the N64 came out and had analog sticks but it was quickly rectified by the Dual Shock. If that was a gap, this is a grand canyon.
X1's Azure: A world wide newtork capable of offering very low latency to anywhere the console is supported and dedicated X1 hardware that combined makes it possible to achieve hybrid, console/server, real time processing. The X1 can also be used to plug into a streaming cloud gaming service.
PS4's Gaikai: A smaller, streaming cloud gaming service.
Hardware capabilities: Offline, PS4 has the edge due to its GPU and GDDR5 RAM but the X1 isn't just an offline, closed box, console. Online..no idea. How will exclusive that take full advantage of the PS4's GPU advantage compare to exclusives that take full advantage of the X1's capabilities when hooked up to Azure? No one can honestly answer this at this point. And until this question is answered, no one really knows which console is more powerful.
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