People appear to have short memories. I seem to remember the 360's games in year one didn't look spectacular, including exclusives. And then we had Gears of War and any doubts about the system's power changed. I think November 2014 should be a good time to get an idea of what the system can do.
As for the games ... there are a lot of things going on in the background with Killzone SF. It's not just a visual bump, but the detail. Things like the way how the tiles were crumbling after the explosion, that HUGE city and the hyper detailed environment. I imagine a LOT will be displayed on screen at decent (locked) frames as well. Plus the game is sure to improve between now and launch.
Playstation = The Beast from the East
Sony + Nintendo = WIN! PS3 + PSV + PS4 + Wii U + 3DS
