For me it will be the PS4, but not yet (within one or two years after release is kind of an optimal date for buying a new console, because then the really good games are starting to come out).
1. The PS4 is a better piece of hardware, with some very nice touches (for example, even though installation of disc games is required, you can start to play a game within like 30 seconds, whereas on Xbox One you have to wait up to 9 minutes).
2. Sony's First Party Studios have more games interesting me (Naughty Dog, Japan Studio, Sony Santa Monica, Sucker Punch, Polyphony Digital) and due to 1 the multiplatform games will be better on PS4.
3. The TV non-sense is more or less useless outside the USA or even worse has technical problems, because by default the Xbox One displays everything in 60Hz, but European TV is broadcasted in 50Hz. There is a way to change that, but then your games won't be displayed in 60Hz.
4. Right now, the online community aspect on Xbox One is worse than on Xbox360, because the party system is not built into the Xbox One's operating system. Basically, it is working like on PS3 these days. They are planning to fix this within the next year. In addition, Sony has incorporated streaming very well into PS4 (it is already working there, unlike on Xbox One
). I am curious about Gaikai, see if that will add backwards compatibility. Really, Sony and Microsoft are basically tied in the online community aspect.
5. PS4 is cheaper (although money is not really an issue for me
).