I'm going to assume that PS4K will be ready for this year's holiday. Can't believe I haven't seen this thread before.
PS4K
pro: Launches holiday, lots of PS4 owners potentially double dipping, general momentum of PS4
con: its existence is the bastard child of Satan and Don Mattrick
NX
pro: "proper" new generation, probably going to be awesome, probably going to have some killer feature, lots of Nintendo fans interested, Zelda!
con: releases March, yet to be known possible internet rage against a specific functionality/design decision
FIGHT!
If you demand respect or gratitude for your volunteer work, you're doing volunteering wrong.