Depending on if you know your GPU cores from your peak shader throughputs, let me summarise the techno-babble with what you need to know: The PS4 is more powerful than the Xbox One. As for the rest of you who want more, let's delve a little deeper. Microsoft's baby has the benefit of being geared around running two operating systems simultaneously, which aids with running multiple apps at the same time, background downloads and app-switching in general. The PS4 certainly has more horsepower under the hood - although keep in mind that the consoles are very similar in terms of what developers are doing with them right now - giving it the edge in the long run. Its GPU, system memory and general output of data is far stronger than the Xbox One, but it's worth noting the PS4 doesn't hold together smoothly when handling multiple functions. Doing something like streaming Spotify in the background whilst a game downloads and you play a third can really bog it down, and seeing your system come to a standstill is an immediately jarring factor regardless of what it should be capable of. That said, Point goes to... PS4 With so many developers working on titles for both platforms, it'll be a rarity something releases with a marked difference between the two, but the facts speak for themselves. If you're looking for the most bang for your buck purely based on the specs available, the PS4 takes it.
