I don't really have a dog in the console wars. Personally, I think both the new consoles are pretty outstanding from a hardware point of view.

That said, a few uncomfortable truths:

1. The PS4 hardware is better. Significantly. There's no amount of hand waving that make XBO's choice of DDR3 go away.
2. People are too hung up on hardware. Hardware mattered more in the 90s but software is king. All the HW in the world won't make a DirectX 9 game be able to deliver more than 10k batches per frame today.  
3. The visual difference between an XBO and a PS4 game are going to ultimately be trivial. 
4. DirectX 12 will make a big difference for the XBO in the long run.
5. Sony will almost certainy adopt the next OpenGL spec (or Mantle) which will even the playing field.
6. The graphics stacks on the PS4 and the XBO currently are not very parallel so there's a lot of room to grow.
7. The raw computing power of the XBO and PS4 is about 6 times the previous generation was.
8. The previous generation graphics stack never maximized the use of the hardware or came very close imo.