I own a PS3 and would love to pick up a PS4.
I will not do so.
On the PS3 I used to play Call of Duty and after a few weeks, I looked at the number of hours I had spent on the system. It was in the range of 50-60 hours I believe.
I basically decided that although fun, I wasn't getting anything long term out of playing. So I stopped. I can use that time to learn, read, spend with family and friends.
The bad thing is that these games aren't designed for short term game play. I know myself and getting a PS4 would involve me spending a large amount of time playing. It would be tremendously fun but the time sink would not be worth it.
So, regretfully, I'll stick to playing World of Goo or some other quick play game on my iPhone instead of getting the big guns.
I feel like it's impossible to keep up with big expensive AAA games, because they are simply too big and too awesome. So, I got a 3DS instead, and I can play Animal Crossing with my daughter in the evening, or play strategy games by myself on the train. Even if they are expansive games, they are still portable and don't require big startup time.
I also have a deep desire to build games, along with other things, and I simply can't do that while I am playing these big titles and have a job and a family.
I can see some circumstances in the future where I would feel better about spending lots of time playing immersive games.
I sure do miss those teenage years of being able to pour hours a day into an immersive masterpiece like FFVII.
I want to easily and quickly browse and play different games, without investing hours and $50+ to find out if it sucks or not. That's the problem I have with consoles and they don't seem interested in solving it. I want quick and immediate selection and playing of games, like Netflix is with movies. Like I'm in an arcade, not in a checkout line. Nintendo had the right idea with the Wii. Gaming is more than the latest 3d engine.
But where do you go from "Blu-ray" level gaming? It sure isn't 3D, and 4K console gaming won't be here for a while...
I've always been a gamer and even though I have a wife, 2 year old son and another baby on the way I can still find time to play.
However, if I had to decide between a XB-ONE, a PS4 and a SteamBox / PC, I'd instantly pick the last one. =)