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While I enjoy my 360, I have no intention of getting another MS system. I will likely wait on getting a PS4. I want the game library to grow. I also want to be aware of any potential DRE or YLOD like issues. I'm doing the same thing for the Wii U. I'm waiting until both the PS4 and Wii U are of value to me. Not to mention I'm waiting for a PS4 slim and price drop. Til then I'm satisfy with my PS3, 360, Wii, PS2, PSP, and most especially 3DS.
I'll wait, thinking at least a year, I'm reluctant to buy any console at launch again. I have a backlog anyway, and I'd like to give it a while to see how each of the next gen consoles are turning out before deciding on one. It'll probably be a while before any games I really want are released anyway...though if one is, for instance maybe Versus XIII or The Last Guardian finally showing up as PS4 games, the whole 'wait' idea will kinda go out the window. XD