Well, as admitted elsewhere, I received a PS4 for Christmas. My thoughts so far:
The Console: It is fairly slim and looks nice. Mine is the white one from the Destiny bundle. It does it's job and plays games. It does seem a little louder than my Xbox One, but it's in a different environment too. Not a big deal either way. I'm not a big fan of the little light bar on the thing staying lit when it is in "Rest Mode". I likley won't make too many purchases I want to see downloaded while away, so I think I'll just be doing the full shut down on the PS4 since that thing stays on.
The Controller: The Dualshock 4 is a huge improvement over the Dualshock 3. For me personally, it's still not as comfortable as a 360 or X1 controller .
I don't understand the light on it all. Is it just to help the camera see the controller? Drain the battery? Take up space to give the controller a little more contour? I don't get it.
The speaker on it is neat, but seems a little gimicky. It is used a bit in the game I've played, but I'd rather have the recordings or noises it does play come through my surround system. It could turn out to be a junk feature or a great feature, depending how developers use it I guess. My biggest gripe with the controller is that they (still) didn't use any form of removable battery. If your controller dies, you have to wait for it to charge or sit within a USB cable's length of the console.
The touchpad on the controller is about the same as the speaker. During setup it could be used like a touch pad on a PC with the on screen keyboard. Still it is in an awkward spot for much use in that scenario and I found use fo the directional controls w/ buttons to be faster. In the game I've played it's basically just a big button, so not too useful there. It could be a good thing, depending how it is used, but I do think it's an awkward thing to reach for if using touch and not just to push the big button in the center of the controller
Remote Control: Or more so the lack there of is a big disappointment. The only thing that can control the PS4 is the PS4 controllers. I just upgraded my Harmony remote a month ago to one that could run everything in my entertainment stand, including the PS3. So finally it took only one remote to watch/play on anything. I figured the PS4 would mostly replace the PS3 as the 3D Blu Ray player downstairs, but given no remote can control the thing, I'll likely have to rewire things again and put the PS3 back in it's old spot and hide the PS4 out of sight where the PS3 was moved to.
Initial Setup: The menu system was a little confusing at the start. It walked me through setting up WiFi and doing an update, then dropped me into a menu with little I could find I wanted to do (notifications or somethings). Where's the games? I want to buy the two exclusives I care to play, where are they? Oh, you dropped me into a second level menu. It wasn't immediately obvious that pressing the up button would go up to another level of menus where I could find the Store, Friends, etc.
Games: I'll post in "The Last of Us" thread my thoughts on the game itself, but in general the PS4 has plenty of games, and as I've said many times it will come down to which ecosystem you prefer (PSN vs. Xbox Live, Trophies vs. Achievements, etc). So for me, any cross platform game will be an Xbox game and the PS4 will be for the few exclusives I care to play. Currently that means I have The Last of Us and Infamous Second Son. I've only played the first of these, and have not quite completed it. Come February, hopefully The Order of 1886 makes it out on schedule.