Many good points in this post but I wanted to emphasize this one.
I've been harping on Sony for a good long while on their decisions with ps3. I think Sony felt that after ps1, they had the market locked down and basicly, wherever they wanted to push it, the market would follow. After proving that viewpoint correct, they followed the same again with ps3.
The circumstances were much different this gen though, but they chose to ignore them and in fact, push further on their own.
They not only kept the "difficult to develop" mindset as "ok" but then decided to add "expensive" and "late" to the list as well. While they were at it, they decided crucial exclusives weren't necessary either.
Essentially, they let this gen slip through their fingers by their own doing.
Hopefully they will learn from these mistakes and humble themselves a bit and take ps4 to the top.
One of these will be a given though, ps4 will be "easy" to dev for comparitively speaking by being an extension of ps3. It should also be inexpensive by not forcing a new media down gamers throats. Thirdly, if they have any sense at all, they will launch either early, or at the same time as the competition. Games would also help their cause for establishing ps4 as the lead console of the gen.
review:
ps1
easy to dev
cheap
low BOM
exclusives
launch 1st (or same)
ps2
difficult to dev
cheap
low BOM
exclusives
launch 1st (or same)
ps3
difficult to dev
expensive
high BOM
lost exclusives
launch last (or same)
ps4
easy to dev
cheap
low BOM
exclusives?
launch 1st (or same)?