I acknowledge that I'm probably in the minority here, and also that my feelings and subsequent response aren't really in the spirit of the question. That said, I've been pretty much living off of my 3DS lately. The games I've spent the most time with lately are Fire Emblem, Etrian Odyssey, Mario Kart 7, and just a little bit of Animal Crossing. These graphics are perfectly fine to me, and they aren't even the best looking stuff on the system. The games are pretty, if not overly detailed. But, mostly, what the 3DS is capable is enough (although there are certainly some instances where a low res texture is zoomed in on, or something equally unfortunate). The only concern I really have with the 3DS is it's ability to do large worlds and vast, open spaces.
Watching PS4 and XB1 footage, I am not impressed by the graphics. Better graphics are just not that big of a deal anymore. The scope and draw distance is impressive, but when we're just talking about filling out the background, I really can't get that excited. Artstyle is the one thing that makes a game (visually) pop for me these days, although I must admit that really I'm getting more interested in systems and general gameplay and less interested in graphics and stories.
I acknowledge that what was shown for Wii U was less graphically impressive than what was shown on the High End Twins. But the Wii U games came across to me mostly as "we're going to use all the juice we can get out of this thing to make a fun game", not "we're going to make it BIG AND SHINY". I am really excited to play those Wii U games, because they look fun. They also look pretty. All three consoles look pretty. Wii U is pretty enough for me to not care about it, and so PS4 and XB1 are beyond the point of diminishing returns for me.
I do plan on getting a PS4 though, because yeah some of those games looked really fun. But if it's just more "cinematic" or more lifelike, I could not fucking care less about it.