My $0.02
+ Looks very nice on my entertainment center. My only minor quibble are the front facing USB ports ruining the look and the shiny black plastic top left being such a smudge magnet. With my Xbox One coming next week made entirely of glossy black plastic, I shudder to think how much cleaning that would require.
+ Performance as advertised. Games look great and the resolution jump hits you like a truck.
+ Best controller ever (until next week anyhow). I always preferred the 360s controller to nearly anything and never thought I'd say this about a dualshock.
+ Playstation Camera is suprisingly cool. The playroom isn't a system selling must have but its terrific fun and my girlfriend loves it.
+ I don't know why but Netflix and Amazon Instant look much better on my PS4 vs my Roku 3 (I'm guessing something to do with decoding hardware).
- The firmware is half baked. I had to restore the console from safe mode after installing 1.5 made my PS4 go into a catatonic state with a flashing blue light. Luckily safe mode worked and installing the update via the internet from there made things right again.
- Can be a bit noisy in games like Killzone with both fans and the BD going full blast.
- The UI needs some customization options and I'm sure they're coming. I'd rather they focused on stability first.
- They really should have done a better job at getting PSN ready for launch.
Overall I think it is looking like a console with tonnes of potential for years to come. If they'd gotten the firmware/PSN issues taken care of before launch I'd be inclined to call it perfect. It's probably the best example of Sony being one of the best at hardware and design and needing some improvement on software and services. I'm fully expecting my Xbox One next week to be the complete opposite. I expect underwhelming hardware (especially after the PS4) but a much better OS and Network experience.
If only Microsoft and Sony collaborated and released a joint console with Sony doing all the hardware and design and Mircosoft doing the OS and Network.....