Quick summary that I also posted elsewhere:
Despite it being unfortunate that online gaming will require Playstation Plus (I already have it, so not a problem for me, but a fixed yearly cost isn't going to sit well with 'casuals', so online play with them is going to be even less likely than it is now - something that only happens briefly with some of the really big games), there's a list of things that Sony does better:
1. F2P games don't have to be behind the paywall. I hated that for Xbox Live
2. Apps don't have to be behind the paywall. Stuff like Youtube and Internet Explorer 10 for Xbox Live Gold members only? Even trying to push the BBC behind that? Come on Microsoft! This is not going to work if you want your device to be widely accepted by a more casual audience. Despite having by far smaller install-base in the US, Netflix has the most single platform users on Playstation 3, and it's for this reason.
3. Asynchronous multiplayer doesn't fall behind the paywall. This is a really big one for me, and while I haven't seen a statement on this from Microsoft, the way they seem to want to push the Cloud (which if anything, is perfect for all things asynchronous) and based on some of the stuff they've done so far on 360, I'm currently expecting this to be behind the paywall.
4. Devs can self-publish. No further comment necessary - most (not all) publishers that can currently afford the proper status on 360 have too much power over content, and are too risk averse. A dev-team should be able to kickstart a project and self-publish, without too much interference.
I'm willing to bet that Microsoft may have to change their mind on some of these, but I appreciate that Sony has been wise enough to figure out the right thing to do on their own.
However, if Microsoft gets all their other visions right - Kinect turns out good this time, WinRT apps work uniformly on 360 and work well with Kinect-Touch, WinRT apps can support gamepads making it a good platform for Indie self-publishing, TV-in proves useful, WinRT can take over some of the paywalled media features (Netflix WinRT app), the Xbox becomes the better SmartTV device (face it, it will out-power TVs and Apple devices for years), SmartGlass is a big success, Cloud turns out really useful* then Microsoft is definitely not out for the count.
But we have seen in the past - that price difference will make it hard in the beginning. The onus is on you to prove that your device is worth the extra cash, which is not always easy, and with the prime function being gaming first and foremost, there's a risk that the PS4 is both cheaper and more powerful, and that could make reasoning 'but it does all these other things' hard for a significant portion of gamers.
And while Microsoft seems poised well for making a Wii-like play for a larger, more casual market, the Wii started at $249 or thereabouts. This was an important part of that strategy.
* (I can see some benefits for publishers if Cloud performance for online enabled games like MMOs is budgetted to individual players - then no matter what they play, they will always have this single bit of server resource alotted, which could be far more efficient then shifting resources around all the time depending on what game)
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Also, Phil Spenser interview on Eurogamer:
http://www.eurogamer.net/articles/2...osoft-studios-phil-spencer-discusses-xbox-one