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I will post what I have posted in a previous PS4 specs-thread (I've changed it slightly) but this time include my predicted price:

 

Hardware Specifications
Central Processing Unit (CPU) QC @ 3.4ghz (Not CELL)
Graphics Processing Unit (GPU) HD 7850 2gb vram
Memory  4GB min (inc 2gb vram)
Storage Capacity 320gb/500gb 

 

This can run BF3 on Ultra at 1080p + 60fps, considering it's a closed system that'll be well optimized for.
CPU = £75
GPU = £80
RAM = £25
Storage = £25/£50
Other parts = £80
Total manufacturing cost = £285/310
Retail prices:
320GB PS4 =  £299 ($349) 
500GB PS4 =  £349 ($399 note that these are not direct conversions of currency, 'Merica gets things cheaper)
 
A moderately powerful console, definitely a big jump over this gen, sold for a profitable £299/£349. Perfect.
Edit: CPU price has been adjusted