It's curious, based on the first months, you would think that people would have concluded that the Ps3 was much (much)
weaker than the 360. Madden running at half the framerate, Splinter Cell
A lagging even compared to the Xbox version (in some areas), nothing shown (sans bullshots/bulltrailers) looked nearly as impressive as Gears of War, etc. Yet, for some reason, the Ps3 was always assumed to be the most powerful. Not a new phenomenon, mind you. At launch we had the Ps2 showing (significant) worse performance in DC ports such as Sonic Adventure games, and we know the rest of the story.
On more recent times, while more than one are (still) convinced that Vita is in the same tier, or close to, the ps3; the 3DS was declared "barely above the PSP (if at all)" and "around the same as a Dreamcast (DF)", Art Technica (I believe) went even farther stating that it offered "N64 tier graphics". I remember a particular post at BY3D that stating something like "I played the 3DS demo at a store and nothing gets even close to TC H.A.W.K. (Symbian)"... that game looks like an
N64 game with better textures.
The perception of the device has changed little since, since now we
have moved to better things (advances in mobile tech have been spectacular since 2010). I expect the same to happen to the Wii U. By the time NFS:MW releases, we will have Ps4 media (real time or not) "setting the bar higher".