Also, keep in mind that the original launch titles for the Xbox 360 looked like this:
http://ve3dmedia.ign.com/ve3d/image/article/655/655564/perfe...
Launch titles are generally either carry-over concepts from earlier consoles and/or are drastically rushed to hit a very hard deadline, the titles hitting in the next couple of years will up the ante significantly.
That aside, I'm personally looking forward to next Friday quite a bit, as my preordered PS4 from Amazon is supposed to be arriving that day and having played around with some of the games already I'm really looking forward to more time with Killzone, Knack and Assassin's Creed 4.
FWIW, I'm one of those gamers who was a huge fan of the Xbox, mostly due to Live as a multiplayer platform, but I'm looking much more forward to the PS4 than the Xbox One, in fact I have no immediate plans to buy a One, though I'm sure I'll probably buy one eventually (much like I bought a PS3 eventually, but that wasn't until this year).
Anyone arguing that games don't look that much better than current gen need to remember how much progress we've made this generation, and then look at how good games like Killzone: Shadow Fall already run and look at launch.
Sony originally intended to have the cell do all the rasterization work in the PS3. They had to add an additional NVidia GPU in the last moment once Cell proved too slow to do that at competitive speed. That was one of the reasons why the PS3 was so expensive at launch.
Specifically video cards don't start passing the PS4 until the $200 range, at least when comparing via synthetic benchmarks.
I'm also unaware of how to get memory like GDDR5 for PC RAM.
You can't "make up" for having shared memory unless the developer is just using it to pretend that they have a machine with like 6 GB of vram.
Of particular relevance is the fact that the PS4 has cache coherent shared memory. Which is a separate ball game entirely.
I can't wait until there's a PC that has that kind of memory architecture, though, if we ever get one.
Also, a $50 price difference doesn't invalidate my answer of $600-$650 --- in fact you'll notice that it lands exactly in my stated error range of $50.
EDIT: My bad, I found a super off-brand cheap bad-warranty version of the 7870 for $170.
But speaking from experience, don't buy a shit card from a shit company with a shit warranty.