I have them both and whichever you choose you can't go wrong. They are both pretty similar at the moment when it comes to gaming. I like the Xbox a bit better right now because of the "cool" factor of it controlling my tv and such with voice commands.
BUT I feel like if you are buying it strictly for gaming then it seems to me the PS4 will win out in the long run when bigger and better games are released.
Hard to say right now. A console's only as good as the games it has, and neither one has anything that special right now (unless you really like half-baked next-gen ports). The 360 has always had the larger CoD community and has the exclusivity period for DLC, but the former may change over time depending on how both consoles are received, and the latter isn't a deal-breaker.
I have the PS4, I like it a lot. Definitely digging it's interface over the Xbox's interface and the new dualshock is the best one yet. And now playstation plus has party chat, so that makes a big difference compared to the PS3.
Both consoles are probably going to end up being pretty similar besides a few exclusives. But as someone who uses their console just to play games, I got the PS4. I don't need to watch ESPN or browse the internet on my console, I can go on my laptop or turn on the TV for that. Plus I'm not really down with paying 100 bucks more for a kinect that I'll never use.
I don't care about either at the moment, and they're exclusives for the next year aren't strong enough to sell either system.
I want Titanfall, but I'm opposed to getting an Xbox One financially and on principle as long they include the $100 Kinect. I want Warframe, but the Dual Shock hasn't been comfortable since I was 13 and had midget hands. Both will get Destiny and KH3.
I guess I'm leaning toward the Xbone, but I won't make up my mind until March.