Good on Sony for pushing the bar with their console. It's interesting because Microsoft could have had a huge upper hand with their pricing, even with a weaker console, instead they decided to increase their own cost by demanding Kinect to be included.
Not only that but now more than ever I really think the value of XBL and PSN is going to start showing. It's a new gen with both consoles not being backwards compatible, what's tying anyone down to XBL anymore? I've read from a lot of people it was their XBLA and downloadable content. No one wanted to start over. Now nothing is stopping them and their friends from getting free online play.
I'm not counting the Xbox One out, and the 360 was by far my favorite console this gen. I've even been paying for Xbox Live since it came out, and even while having a good gaming PC with Steam, I've never once felt ripped off by it. Now the only thing keeping me tied to the console is where my friends decide to go.
It'll be interesting to see which company's direction pulls through. I think Microsoft went wrong. To me it seems like they put gaming in the back seat. It's an all in one solution, but you still need every single box you have anyways. Sony seems to be pushing towards gaming first, while still having all those nice multimedia apps on it.
Who knows maybe they'll both only stagger along like the WiiU. I don't see it though, gamers have been thirsty for a new machine, and from everything I've heard, Sony seems primed for a big run. As for me, unless the Xbox One wows me in E3, I'll be watching until the dust settles with my trusty PC.