Two takeaways from the PS4:
1. GDDR-5 memory. This means a lot of bandwidth to communicate between assets and the CPU. A pretty big deal as it ensures that their CPU will be more fully utilized.
2. 64-bit. This is huge. Means you’ll be able to support megatextures and have vastly richer worlds to play in. More specifically, it’ll mean that it’ll support types of games that you couldn’t realistically do on a mobile device which keeps the iOS/Android games away. It also means that the games might be slightly cheaper to make. A lot of time is spent optimizing games to fit on current hardware and that’s very very expensive.
While some people will say it’s just a souped up PC, it doesn’t really matter. If I’m a game developer and I know that my minimum spec is this, I can create games that are simply unimaginable on the current PC.
I’ll be curious to find out how much L2 cache it has and a bit more on the GPU. Sounds like an AMD 7800 series level chip.