OK... as much as I hate Windows 8 and the Xbox... there is no way Microsoft is going to bail on their console line. It gives them too much visibility. When you can stream Netflix, or watch MLB or NHL games on it via subscription, etc., it's become a media device as well as a gaming one. They'll never walk away willingly.
As for the PS4, the specs sound good... but it's the interface that matters. How many developers have complained about the complete mind-screw that is coding for the PS3? Will that get fixed, or have Sony just added 2 more cores to the mess...?