2 experts have answered
The PS4 is more powerful and costs less than the Xbox One. The PS4 potentially offers greater privacy and has been more focused on being a games console rather than an entertainment system. To play games online it is free for the PS4 but not for the Xbox One. With all this taken into consideration I personally doubt the Xbox One's week earlier release will help boost sales.
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Hmm, I will have to disagree with the above comment. The first thing to understand is that the reason why there is a difference in price is because the PS4 doesn't come with the camera. If you include the camera they are the same price. With regards to processing power they are pretty much the same. What has happened is that Microsoft has shot itself in the foot with a number of poor PR statements which has very much played into Sonys hands. I will almost certainly be buying both consoles, but I will buying the Xbox One on the fact that the 360 although not as powerful, had the better infrastructure in place, and say what you want about Microsoft, at least they didn't have their entire network hacked, although given time, I am sure that will happen at some point!
At the end of day, it is down to personal preference as to what you get. If you look at the current top 20 for example, and look at the percentage breakdown in sales for key triple A titles, on the shooters and racing games, then the 360 is well ahead, however there are other genres where the PS3 is the leader.
Speaking to a number of industry friends, at the minute the PS4 demand is outstripping the Xbox One, as the price is being mentioned, but it is not a like for like comparison. I know amongst my circle of friends we will all be buying the Xbox One first and then looking at what exclusives will be coming out out on the PS4.