Ps4 will likely employ the blue ray tech currently in Sony dev labs to make blue ray disks store a full terrabyte of data. Already blue ray disks can hold several hundred gigabytes, they just dont work with currentps3 blue ray players, the lazer technology the've developed can read and write far more layers onto the blueray disk. Blue ray will grow and evolve and will continue to be the optical standard because digital distribution is NOT the future. A small fraction of consoles ever connect to there respective networks, and a smaller fraction of those purchase digital content. You cant return digital purchases, no refunds, no resale. Americans like things and the problem with digital distribution is you feel robbed immediately. You have nothing in your hands and it feels like they gave you something you paid too much for.
anyhow...blue ray is the future and later versions will read and write much faster and hold more data.