Or
Scenario 3
Something in the middle. '10x'. As described by the last rumour. In whatever config (APU or APU+GPU) is more economical to manufacture.
Which, IMO, is the most likely scenario. That rumour seemed pretty reasonably realistic.
Also, for those saying that the visual quality on these consoles will be akin to a current gen game on higher PC settings...prepare to be very surprised. By the time the second generation of software rolls around at the very least anyway. What you will ultimately see on these machines will be way, way beyond what current software today looks like on similarly specced PC hardware.