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The biggest loss was textures, but that was before the surprise announcement.  I'm sure Unreal 4 will be up to par now.

Oh yeah considering the impressive specs of the console, I imagine it could easily run as well as a GTX680 when optimisation and everything else is considered. Honestly I was skeptical about the consoles being UE4 ready but the PS4 really did impress me. 

Yeah, the failures of that demo were 100% due to the lack of time as opposed to hardware limitations. Like the doorframe in the ps4 version doesn't even have a texture lol. If thats not rushed then I don't know what is ...