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Turkish said:
Full category should be above and beyond 1 billion

Regarding NA's first day sales?  No.

PS2 sold 500,000 units at $299.  This accounts for $150m of its $250m total, leaving $100m generated by games and peripherals.

Since the PS4 sold twice as many consoles as the PS2, we can double the revenue for games/peripherals as well to $200m.  Now, to allow for the fact that PS4 games retail for $10 more than PS2's - and allowing for the possibility that more software was sold for the PS4 launch - let's be very generous and just add an additional $100m to that total.

That brings the games/peripheral total to $300m (which, again, is being generous) in addition to the $400m in revenue for the PS4 console itself.  An impressive number, but still far from $1b.

EDIT:  After seeing Ben's thread stating that COD, B4 and AC4 had such strong sales on PS4, my estimation of $300m for games/peripherals now seems conservative.  I stand by full category not reaching 1b though.