From my point of view pc players can already witness in many ways what the new generation of consoles will be capable of.
Just compare Skyrim on a ps3 with a fully modded version on the pc.
https://www.youtube.com/watch?v=YdD6LX2tw7g (ps3)
https://www.youtube.com/watch?v=tS9rH9fqAp4 (pc - watch in hd)
Or check GTA4 or Crysis with mods.
https://www.youtube.com/watch?v=qq7-hTVP9AE
So connect a powerful pc with a gamepad to your tv and play one of theese games and you will know what to expect.
In the end there will be of course huge improvements, but nothing we didn´t see already.
The thing which annoys me most with my PS3 and the current generation are all the jaggies. On all the screenshots which are floating around they are almost invisible most of the time, but they can get really distracting on a 55" TV.
