Then why is the one version of bf4 running without ao and effects of the ps4 version at a lower overall fps? I doubt the devs dropping to 720p means the one just runs amazingly and is given more effects as a consolation prize. Nothing we've seen indicates what you're proposing to be at all true.
I think it actually looks better on xbox one
From this comparisson at least (not my pics)
http://uk.ign.com/videos/2013/11/01/battlefield-4-next-gen-vs-current-gen
I will reserve jusdgement until more official pics are out, but the PS4 version looks inferior rather clearly, more blurry and missing shadows and the lighting is not as good etc
I have to say i am surprised 1080p had such a severe negative effect on PS4 graphics
what i would love to see is an option to use 1080p will the less effects or 720p with more, just two options for console would make sense