Waiting until this holiday. No games I wanted when it launched. This holiday because some games I want will be out and I'll be able to get them for cheap, maybe one or two bundled with the PS4 for $400 or no games bundled for less than $400.
Although this holiday I might put it off again and wait until next year. I'm in no rush. I've got hundreds of games for past systems and there are a lot of games last gen I haven't finished.