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From what we know to be true at the moment based on rumours which are most likey true as MS didnt bother to deny them and they werent gonna shout about a spec they know thats worse.

PS4 50% more GPU processing power than xbox one
PS4 7gigs of usable GDDR5 vs Xbox one 5gigs of usable DDR3 + 32megs of esram
CPU almost identical
both have bluray
both have hard drives

So IF this is true, PS4 noticeably more powerfull, but id say probably wont be noticeable in launch games, as devs wont be close to maxing out these consoles.