This is based on hands on time with the PS4 and XB1 versions
PS4 vs PS3 Framerate
https://www.youtube.com/watch?v=UsB8M9bvlVY
XB1 vs X360 Framerate
https://www.youtube.com/watch?v=7MV43onKiC0
More here - http://www.eurogamer.net/articles/digitalfoundry-2014-vs-metro-redux
For this piece, we want to give you a taste of the work 4A has done, so we'll be stacking up the original Xbox 360 version of Metro 2033 with the Reduxed Xbox One game - as there was no PS3 release there, it's the natural choice. For Metro Last Light, we're breaking out the PlayStation 4 edition of the Redux and comparing it directly with PlayStation 3.
The result is fascinating. Comparing the original Xbox 360 and Redux Xbox One, we strongly suspect that where Last Light assets could help out, 4A used them where they could as direct like-for-like replacements: the mutated wild-life - showcased effectively in 2033's initial level - looks much better and character models are routinely switched out for far superior versions. Outdoor environments share the same basic geography (although we note some subtle tweaks) but the detail level is ramped up significantly - debris and other new geometry elements pepper the landscapes and additional blasted dead trees and foliage are commonplace.
The further you play into the Redux version of Metro 2033, the more the differences stack up. The subterranean sequences still hold up rather well on Xbox 360 - especially in terms of lighting - but the Redux improves things with small environmental detail boosts backed up by far superior precision in effects work, much higher detail artwork and what we suspect is a completely revised take on the lighting.
The original Xbox 360 version holds up surprisingly well considering it's now over four years old - but it's interesting to note that the areas that have aged the most aren't really so much different in the Redux. Most notable is character definition and in the way they move. Not all of the character models are swapped out with higher detail alternatives and those do stick out somewhat. Facial and body movement is a step behind Metro Last Light, which in turn falls short of the more advanced performance capture seen in latter-day last-gen titles.
Comparing the Redux PS4 version of Last Light to its PS3 predecessor is an interesting experience. It's the same game but the level of refinement the new version brings is obviously a highly worthwhile upgrade. The raw mathematics explain much of the differential: 4A opted for a 1152x640 framebuffer on PS3 (1280x672 on 360), while the PlayStation 4 offers up the full monty at native 1080p. The additional pixel-count gives Last Light's intensely detailed texture work the real estate to shine - this more than anything offers up a good proportion of the top-end PC experience on your new console.
In an age where marketing often promises 60fps only for the final product to fall short, it's refreshing to see that 4A's approach is brutally uncompromising. There is indeed no 60fps 'target', or even what we like to call a 'perceptual' 60fps - where performance often dips below the ideal, but not to any great, noticeable detriment to the experience. This looked absolutely rock solid.
On PlayStation 4 running Last Light, we see a solid 60fps from start to finish (screen-tear is only evident on FMV cinematics, curiously enough). Across 26,000 sample frames, each is entirely unique. For our Metro 2033 Xbox One captures, just two frames are dropped - one accompanied by a fleeting screen-tear cascade, again proving that adaptive v-sync is in place. What this means is that the Metro Redux offers up a consistency in visual and controller feedback that is transformative in nature, significantly improving the feel of the interface between player and game. In a first-person shooter, that kind of improvement is priceless.
We'll cover like-for-like performance on Xbox One and PlayStation 4 in a forthcoming pre-launch update, but we're going into that testing with the expectation of very close results. Differences kick in at the resolution level: PS4 hits its 60fps target at full 1080p, while Xbox One currently stands at a curious 912p native resolution - that would be something in the region of 1620x912 (assuming square pixels). The original plan for Xbox One was to ship at 900p, but the June XDK update (returning the Kinect GPU resources to developers) has allowed for a tiny resolution boost - our guess here is that 4A opted to bank the additional resource to help lock down that all-important frame-rate rather than really push the pixel-count. If so, that's the right trade.
PS4 vs PS3 Framerate
https://www.youtube.com/watch?v=UsB8M9bvlVY
XB1 vs X360 Framerate
https://www.youtube.com/watch?v=7MV43onKiC0
More here - http://www.eurogamer.net/articles/digitalfoundry-2014-vs-metro-redux